A Brooklyn lawyer has been caught in a web of deceit, pleading guilty to defrauding real estate investors of at least $6 million.
Shimon Rosenfeld, a 59-year-old attorney licensed to practice in New York, perpetrated the fraudulent scheme between May 2014 and March 2018.
The scheme involved soliciting and receiving approximately $6 million from various individuals, who were led to believe they were investing in real estate opportunities.
Rosenfeld, however, misappropriated the funds, directing them into bank accounts he controlled and using the money to trade securities out of his brokerage account.
According to Acting United States Attorney Mark J. Lesko, Rosenfeld swindled his investors by claiming he was ‘flipping’ properties, when in reality the only thing he flipped was their millions of dollars in investments into his own personal bank accounts.’
The U.S. Secret Service, working in conjunction with the FBI, is dedicated to bringing those who commit financial crimes to justice.
The government’s case is being handled by the Office’s Business & Securities Fraud Section, with Assistant United States Attorney Hiral D. Mehta in charge of the prosecution.
Rosenfeld’s guilty plea was entered before United States District Judge Kiyo A. Matsumoto in federal court in Brooklyn.
The defendant faces the consequences of his actions, and the rule of law has been upheld.
Shimon Rosenfeld, Real Estate Investment Scheme, New York 2021
Defendant: Shimon Rosenfeld
Criminal Charges: Defrauding real estate investors
City and State: Brooklyn, New York
Date: 2021
Sentence: Guilty plea
Dollar Amounts: At least $6 million
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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