Twice-Convicted Con Artist David Bloom Pleads No Contest to Multiple Fraud Charges in Los Angeles

Wed, 06 May 2026 06:25:00 +0200

David Bloom, a 62-year-old twice-convicted con artist known as the 'Wall Street Whiz Kid,' pleaded no contest in Los Angeles to 18 counts of grand theft by deception and securities fraud. Authorities said Bloom used luxury settings, including a historic Hollywood apartment complex and the Frolic Room bar, to lure victims by projecting wealth and promising access to lucrative investments and exclusive events. Victims were persuaded to invest in stocks from companies like Instacart, SoHo House, and Snapchat, contributing roughly $190,000 in 2021 alone. Prosecutors say Bloom's total scam amounted to around $250,000. Bloom's fraudulent behavior is not new: he previously defrauded nearly 140 people, including family members, out of $15 million in New York during the 1980s and served eight years in federal prison for mail and securities fraud. Despite being barred from the securities industry for life, he continued similar scams in Manhattan in 2000 and again in Los Angeles in 2022. Prosecut