“Wall Street Whiz Kid” charged for scamming nine victims out of almost $250,000
By Web staff
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LOS ANGELES (KCAL) — The Los Angeles County District Attorney’s office has charged 59-year-old David Bloom, once called the “Wall Street Whiz Kid,” for scamming nine people out of nearly $250,000.
Bloom, who was convicted of fraud in New York, was charged with nine felony counts of securities fraud and nine counties of grand theft with special allegations of two or more felony convictions.
“Mr. Bloom is someone that had been actually convicted of crimes, similar crimes in New York previously,” District Attorney George Gascón said. “He was prohibited from selling any securities for years and he came here to LA and started to prey in new new victims.”
According to Gascón, Bloom carried out these scams between 2021 and 2023, promising his victims to turn their investments into nest eggs they can hold onto in the future.
“This man had no boundaries that he will not cross to scam you,” said Caroline D’Amore, one of Bloom’s alleged victims. “He sent me and my business partners to Texas to meet with the CEO of Whole Foods, who I thought I had met on the phone.
D’Amore, a young single mother and business owner, said the “Wall Street Whiz Kid” befriended her during her divorce and convinced her he could help her grow her small business.
After about six months, D’Amore gave Bloom thousands of dollars for fake investments.
“He says there’s this IPO. You can gather anything from $1000 to whatever it is — whatever you can put together,” she recalled. “This will be a little nest egg for you.
After figuring out his scheme, D’Amore decided to call authorities rather than confront Bloom. She pretended to continue their business relationship and friendship while collecting evidence for detectives.
“He really preys on people that are all of a sudden going through a really rough time,” said D’Amore. “Every single one of the victims will tell you that.”
Bloom sits in jail in lieu of a $505,000 bail.
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