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Saratoga Springs man gets 2-4 years for swindling would-be investor

Saratoga Springs man gets 2-4 years for swindling would-be investor

A Saratoga Springs resident who swindled a local man has been sentenced to two to four years in stat
Saratoga Springs man gets 2-4 years for swindling would-be investor
George DeGaspard

A Saratoga Springs resident who swindled a local man has been sentenced to two to four years in state prison.

George Degaspard, 58, of Saratoga Springs, pleaded guilty to a one-count indictment for third-degree grand larceny, a felony, in County Court on Tuesday.

In September 2010, Degaspard, who is not a licensed securities dealer, convinced a local man to entrust him to invest $6,500 in the stock market. The money was never invested and attempts to have it returned were ignored.

Degaspard was arrested in January 2011 by Colonie police. He has four prior felony convictions, one of which involved soliciting $6,000 from the father of a prison inmate with the promise that he could arrange early release for his son.

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