Isaac Grossman

By: Saraana Jamraj

A Parkland man has been arrested and accused of orchestrating a sizeable money-laundering scheme that involved defrauding elderly victims with promises of quadrupling their money.

In a joint effort between the Federal Bureau of Investigations, the Security and Exchange Committee, and the U.S. Attorney’s office, Heron Bay resident, Isaac Grossman, 45, was investigated and indicted on the charges of wire fraud, mail fraud, and money laundering.

Grossman ran a company called Dragon-Click Corp, a South Florida-based technology company, which he allegedly used to target the elderly to pull off an array of financial crimes.

According to the indictment by U.S. Attorney Ariana Fajardo Orshan and George L. Piro, Special Agent in Charge of the FBI’s Miami Field Office,  Grossman spent at least $1.3 million of investors’ money on gambling, diamond jewelry, luxury cars, tuition payments for his children’s private education, and other personal expenditures.

Some of the larger purchases made include $35,000 of investors’ funds on a 4.81-carat diamond ring, $21,200 for a lease payment on a McLaren MP4-12C, $36,500 to purchase a Chevrolet Corvette, and $34,500 to partially pay off his home mortgage.

In the alleged scheme, Grossman sought elderly retired investors across the country to invest in his business. To attract potential investors, he told them about a revolutionary new shopping app that would allow users to post a photo of any item they might want to purchase, and immediately recognize all retailers who also sell the item, as well as provide price comparisons and links to purchase.

The product he described bares some similarity to Google Lens, an existing app that can contextualize photos users submit, providing them with identification information about it.

To further solicit them, Grossman allegedly told investors that his company would be sold to larger corporations, such as Google, Apple, or Amazon, for more than one billion dollars and that their money could even be quadrupled. 

From September 2014 to April 2018, with at least 26 investors, Grossman was able to raise approximately $2.4 million. 

Isaac and his wife, Adriana Grossman.

Instead of using the money for an internet application, patent, legal fees to close that supposed billion dollar sale, or any other legitimate business purposes, Grossman allegedly used that money to provide and maintain a lavish, luxurious lifestyle for him and his wife, Adriana.

This was not Grossman’s first brush with the law.  After entering the financial securities sector in 1997, he faced regulatory reprimand and consequences in 2012.

In addition to misusing investors’ money, Grossman also fraudulently concealed this fact from investors that he was permanently banned from acting as a broker by the Financial Industry Regulatory Authority and banned from trading the U.S. Commodity Futures Trading Commission. He also owed them over $121,000 fines.

Grossman and his wife were also hit with a civil lawsuit by the SEC in June of 2018, where their financial crimes were further detailed, including an alleged $426,000 of investors’ funds used solely on gambling. Adriana was alleged to have spent at least $293,000 of investors’ money between 2014 and 2016.  Their LLC, Dragon Management, was organized by her, and she was listed as the sole signor, likely so they could do business under her name.

Isaac Grossman was arrested on October 11 and faces a minimum of 20 years for each fraud charge, and 10 years for each money laundering charge.

Author Profile

Saraana Jamraj
Saraana Jamraj
Saraana Selene Jamraj is a writer, activist, and a student pursuing her master's degree in mass communications at Florida International University.

She's currently the communications manager at The Salt Box in Parkland and has lived in Coral Springs since 2004.