Larchmont stock broker Michael Mollin, 42, plead guilty on Tuesday, May 10 to grand larceny in the second degree, a felony. According to the Westchester County District Attorney’s office, he will receive 5 years of probation when he is sentenced on August 17.

Michael Mollin

At sentencing, he will also pay $100,000 to Thomas Brennan and $40,000 to George Smith, who each accused Mr. Mollin of taking money meant to be invested in Ardent Investment Fund, a hedge fund, and instead spending it for his own use.

A third victim, whose name was not released, will receive $100,000 in payments spread out over the 5 year probationary period. Should those funds not be repaid, Mr. Mollin would risk incarceration of as much as 15 years in prison.

Mr. Mollin was the managing member of Ardent Investors Fund, LLC, a firm he created in 2004. Charges filed in Mamaroneck Town Court on May 21, 2009, allege the offenses were committed sometime between April 1, 2006 and August 14, 2007 at 9 Bonnie Way, Mr. Mollin’s residence during that time. He has since moved to the Village of Larchmont.

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