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Clearwater Woman Ran Stock Scam, Police Say
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Published: March 4, 2008
TAMPA -- Adriana Abreu ran a day-trading stock market business in Clearwater and promised at least one customer a 10 percent monthly profit on money invested, police said Tuesday.
Instead, Abreu took the $410,000 entrusted to her by Paul Jallo of Tarpon Springs and used the money for personal gain, Clearwater police said.
Abreu, 40, of 320 Island Way, Apt. 503, was arrested Monday and charged with grand theft. She was released Monday night from Pinellas County Jail after posting $50,000 bail, jail records show.
Abreu declined to comment.
Jallo invested with Abreu's company, Island Way Property Management, between March and April, according to an arrest report. After several months, Jallo asked Abreu to return the money and Abreu wrote checks which bounced, the arrest report said.
A phone call to Jallo's home was not returned.
Abreu is a real estate agent whose license expires March 31, records show. She wrote on her Web site that she looked for other sources of income when the housing market slumped and discovered stock market trading.
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