Former stockbroker Jeremy Hare pleads guilty to $400K fraud

Jeremy Hare, a banned Philadelphia stockbroker who reinvented himself as the president of a staffing company, pleaded guilty on Friday to an invoice scam that defrauded a California commercial lending firm of more than $400,000 in 2017, the U.S. Attorney for New Jersey, Craig Carpenito, announced.

Hare, 47, appeared in Camden federal court before U.S. District Judge Renee Marie Bumb, pleading guilty to wire fraud. Scheduled for sentencing on Jan. 4, Hare faces a maximum 20-year prison term and $800,000 fine, according to a plea agreement.

Hare's attorney, Ronald L. Greenblatt, could not immediately be reached for comment.

Blocked from a stock-trading career because of investor complaints, the telegenic Hare — who had appeared as an expert on the stock market on the Fox Business cable channel — reinvented himself as a high-end recruiter of financial executives and accountants through his new company, Apollo Search Partners LLC, with locations in Cherry Hill and One Liberty Place in September 2015.

According to federal court documents, Hare submitted bogus invoices to a California lending company for the salaries of employees he claimed to have placed in Philadelphia-area companies but never did. Hare used the money for personal expenses, the the plea agreement said.