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“I was vulnerable and he ‘wowed’ me,” De Grazia described.“Pierce tricked his victims by pretending to be a wealthy businessman in order to gain access to their life savings,” Brnovich explained.
One of the victims invested 0,000 including part of her 401K proceeds.
Another victim took out a 0,000 loan to give to Pierce as an investment.
Rose Reddy explained how Peirce went to great lengths to make his scam believable."He was on the phone making deals on his computer while I was right there listening to him talk," Reddy recalled.
She said Peirce drove luxury cars and had several homes, which she now believes were paid for by the victims' misdirected investments.Pierce used the money at casinos, nightclubs and strip clubs, officials said.