MarcoTech CEO ordered to pay $765K in fraud case targeting Haitians

NEW YORK — For over a year after being accused of financial fraud, Marc Henry ‘Marco” Menard failed to respond to allegations that he had swindled more than 50 Haitian investors in three states out of at least $1.65 million, used the funds to bankroll a luxurious lifestyle and made “Ponzi-like ‘interest’ payments” to investors. 

Yet, despite sending summonses to Menard via email and publishing advisories in New York City news outlets, Menard, formerly of Mineola, ignored them. 

Meanwhile, Laesha Jean-Louis, a woman described in court records as Menard’s romantic partner, was dismissed as a co-defendant. By January 2025, the Securities & Exchange Commission (SEC) asked for a default judgment in their civil case against Menard. A judge later granted the request, ordering Menard to pay $765,875.96 within 30 days. 

Still, no word from Menard in court.

Then, on July 30, Detective Walter Lynch with the New York State Attorney General’s office called police in Sunrise, Fla. According to the arrest report, local police went to the address in the 7600 block of Northwest 21st Court, where they met Lynch and took Menard into custody.

On Monday, Menard was finally arraigned in Nassau County—where his operation was based—on 24 counts of grand larceny, violation of general business law, scheme to defraud and falsifying business records. The case focuses on the alleged theft of $600,000 from 11 investors, some living in Nassau, Suffolk, Rockland, and Queens Counties. 

“Marc Henry Menard took advantage of Haitian New Yorkers, lied to them about his experience as a successful trader, and swindled hard‑working people out of hundreds of thousands of dollars,” said New York Attorney General Letitia James in the news statement announcing the arraignment. 

“Menard treated himself to luxury vacations and shopping trips at his victims’ expense, and now we are bringing him to justice,” James added. “Now we are bringing him to justice.”

MarcoTech long whispered suspect 

Menard’s prosecution marks the latest in a series of financial crimes totaling millions involving the Haitian community in recent years. For some, Menard’s case highlights the painful reality that some community members will succumb to the temptation of making quick money, even when the risks are high and past investment scams and consequences are well-documented. It recognizes, however, that the self–proclaimed securities traders may not intend to defraud people, but can get in over their heads.

Certain community members have suspected Menard of fraudulent actions. His name came up regularly as the EminiFX cryptocurrency fraud case made its way through the courts in 2022 and 2023. Some people told The Haitian Times or commented via the website that they had invested with MarcoTech and NovaTechFX. 

In all three cases, investigators describe hallmarks of such affinity frauds, where the accused ringleader relies on their community’s trust to perpetuate the financial crimes.

Loojimps Marcius, a certified financial planner (CFP) and business coach based in Atlanta, called such cases of fraud “painful” for the Haitian community. He repeated one enduring piece of advice echoed across financial spaces and communities.

“If it sounds too good to be true, it’s likely not true,” he said. “When you start seeing a certain level of returns or that are usually guaranteed, that’s usually a red flag.”

Trading up on fraudulent funds 

Menard, specifically, is accused of operating a fraudulent trading scheme between July 2020 and September 2023 through his company, MarcoTech LLC, according to the default judgment. Prosecutors said he used his standing within the Haitian-American community to lure friends and other community members into investing at least $1.65 million with him. 

Claiming that he had been investing since 2020, Menard allegedly promised investors returns of 12% to 20% per month from trading in stocks and options. 

During one meeting in Uniondale, N.Y., in July 2021, for example, he told prospective investors that he was in the top 1% of traders in the country. 

In September 2021, with another prospective investor, he claimed to be a millionaire due to his investments—and that person gave him $10,000 to trade shortly after.

Investigators said these claims were all deceptive. In reality, Menard was not registered to sell securities and he lost $696,197 on his trades, prosecutors said in the default judgment. He misappropriated the investors’ funds for personal trading and expenses. Among purchases that investors’ money allegedly covered were a 2021 Mercedes‑Benz and a 2022 BMW, designer clothes at the likes of Louis Vuitton and Gucci, gifts, rent, the gym, the lottery, pet grooming services and trips to Turkey, Puerto Rico and Disney World.

To convince investors the scheme was legitimate, Menard showed them inflated account balances, trading activity screenshots and other deceptive documents. He also made payments to prior investors in a Ponzi-like manner. 

In one instance, around August 2022, Menard sent investors a screenshot of an ATM receipt showing an account balance of $8 million. He wrote in the message: ‘$3M [is] for people I invested for. And the rest is mine.’ When investors checked Menard’s accounts for that period, they saw that the combined balances never exceeded $265,000.

Temptation and digitalization create new reality 

Menard’s capture and prosecution echo recent cases involving members of the Haitian community as targets who were duped by someone they trusted, per prosecutors. Or—as some interviewers and court documents have stated—some are willing participants who take the risk to get rich quickly.

Both are scenarios that financial literacy and wealth-building professionals see too often. Between the advent of cryptocurrency and the ubiquity of digital trading platforms, fraudulent schemes have become more rampant across all generations, classes and ethnicities.

“There’s always this desire for our population to get higher returns, almost as a way to catch up with either not having much money or not doing well,” said Marcius, owner of Level X business coaching and consulting. 

“Even though they sometimes think it could be [fraud], they jump in hoping they’ll get out in time,” he said. “Unfortunately, most of the time, they’re closed down much sooner.”

Menard, a U.S. citizen, was released under travel restrictions and surrendered his passport after Monday arraignment. Information for an attorney for him was not immediately available.

Editors Note: Authorities urge anyone who may have been a victim of this type of scam to report it to the Office of the Attorney General by filing a complaint online or calling 1-800-771-7755. Your identity will be protected according to the appropriate law and policies.

The post MarcoTech CEO ordered to pay $765K in fraud case targeting Haitians appeared first on The Haitian Times.