A Rockville Centre man has been charged with grand larceny and a scheme to defraud after prosecutors say he stole $100,000 from multiple victims in an alleged investment scam tied to purported real estate deals in Nassau County.
Arnulfo Castillo, also known as Alexander Castillo Carias Arnulfo, was arraigned Tuesday before Judge Michael Alpert on charges of grand larceny and two counts of scheme to defraud, according to Nassau County District Attorney Anne T. Donnelly.
He pleaded not guilty and was released to pretrial services. Castillo is due back in court July 15. If convicted on the top charge, he faces five to 15 years in prison.
Prosecutors allege that between 2024 and early 2026, Castillo solicited investments from victims by claiming funds would be used to purchase and renovate residential properties he purported to own, but instead diverted the money for personal use and unrelated expenses.
“This defendant allegedly pocketed victims’ investment money after promising substantial returns on residential properties he did not even own,” Donnelly said in a statement. She added that Castillo “allegedly preyed on the trust of the Latino community, using local organizations as a smokescreen to exploit families looking for legitimate investment opportunities,” and urged anyone who believes they were targeted to contact investigators.
According to investigators, one victim paid a $40,000 down payment on Aug. 2, 2024, toward the proposed purchase of a property at 1280 Cambria Street in Uniondale from Castillo’s business, Castillo Acquisitions LLC. Prosecutors said a residential contract of sale was executed in September 2024 with a closing date set for Nov. 4, 2024, but the deal never closed.
When the closing date passed, Castillo allegedly failed to respond to requests to return the down payment. Investigators later determined he did not own the Uniondale property and had no authority to enter into a sales agreement for it, according to the district attorney’s office.
In a separate case, prosecutors say another victim paid $60,000 on Aug. 14, 2024, to invest in a property on Grant Avenue in Mineola. The victim, who had a prior professional relationship with Castillo, was allegedly promised monthly payments of $3,000 for six months followed by a return of the full investment principal.
Authorities said the funds were deposited into accounts tied to Castillo and that no payments or returns were ever made. Investigators also determined he had no ownership interest in the Mineola property and did not use the money for renovations or property-related expenses.
Instead, prosecutors allege, the funds were used for personal and unrelated business spending.
The district attorney’s office said the investigation revealed a broader pattern in which Castillo allegedly targeted victims through organizations serving Nassau County’s Latino community.
Castillo was arrested June 30 by NCDA detective investigators. The case is being prosecuted by Senior Investigative Counsel John Hanley of the Major Financial Frauds Bureau, under the supervision of Bureau Chief Maureen McCormack and Executive Assistant District Attorney for the Investigations Division Nicholas Mauro.
Castillo is being represented by the Legal Aid Society of Nassau County.
Anyone who believes they may have been victimized is asked to contact the Nassau County District Attorney’s Office Criminal Complaints Unit at 516-571-3505.
The charges are accusations and the defendant is presumed innocent unless and until proven guilty in a court of law.
