Money Manager on Trial for Fraud, Use Money for Porn

Phillip Barry, 53, who worked at an investment firm in Bay Ridge stands trial for securities fraud, as reported by the New York Post. Barry is planning to testify that he took his clients’ money and invested it in $160 million worth of land in Sullivan County. Federal prosecutors are claiming that Barry actually bought the land for himself and that he also spent the money on a mail-order porn businesses.