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The Vigilant Investor by Pat HUDDLESTON

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3Rich Man, Poor Man

An Investment Scam for Every Economic Bracket

A rich man is nothing but a poor man with money.

—W. C. FIELDS

Harold Glantz was a New York “businessman”—the president of a chain of bagel stores whose stock offering was suspended by the SEC—with ties to the Gambino and Genovese crime families. A 1976 letter from the New York City commissioner of investigation, Nicholas Scoppetta, to the New York Economic Development Administration concluded that “Glantz has been associated with high-level organized crime figures and has apparently served as agent for them in encroachment on legitimate business interests.”

In 1992, Glantz convinced Stuart Ford and Gamil Naguib, financial advisers to the Salvation Army in the United Kingdom, that ...

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