Welcome, Guest! - or
Easy to remember!  »  VinNews.com

New York - Woodmere Man Pleads Guilty To $62M Ponzi Scheme

Published on: June 27, 2013 04:16 PM
Change text size Text Size  
Bookmark and Share

New York - 29 year-old Gershon Barkany pleaded guilty as part of a plea deal in federal court on Wednesday to bilking real-estate investors out of $62M in an elaborate ponzi scheme between 2009 and 2013.

NEWSDAY (http://bit.ly/16Cn8qm) reports that, in announcing the plea arrangement, which still carries a possible prison term of up to 20 years, U.S. Attorney Loretta E. Lynch said Barkany has also agreed to repay money still owed to his victims.

The feds charged that Barkany’s scheme consisted of taking money from investors while promising “risk free” purchases of commercial properties in New York and New Jersey.

Bruce Barket, Barkany’s attorney said Barkany has already repaid some $25M since 2010 when he first came forward.


More of today's headlines

New Jersey - Federal regulators are accusing former New Jersey Governor Jon Corzine of failing to properly manage MF Global, which misused customer funds before its 2011... Brooklyn, NY - The New York State Attorney General's office has file suit in Kings County Supreme Court against Brooklyn resident Rabbi Yaakov Weingarten, his wife...

 

You can now automatically hide comments - New!

Don't worry, you can always display comments when you need to.

Total9

Read Comments (9)  —  Post Yours »

1

 Jun 27, 2013 at 04:42 PM Sociologist Says:

We haven't had a chillul hashem in a few days.

But the investors also deserve some blame for being chazeirim. Risk free investment? Please, if it sounds too good, it is...

2

 Jun 27, 2013 at 04:59 PM Anonymous Says:

When this first came out, everyone said it was the anti semitic media. Now that he has pleaded guilty, can you still blame the media and the government?

3

 Jun 27, 2013 at 05:05 PM Anonymous Says:

he should tell everyone he is a democrat and get a few pictures with obama, then he can do stuff that Corzine does

4

 Jun 27, 2013 at 06:30 PM Liepa Says:

Reply to #3  
Anonymous Says:

he should tell everyone he is a democrat and get a few pictures with obama, then he can do stuff that Corzine does

Cute, very cute!

5

 Jun 27, 2013 at 11:39 PM PaulinSaudi Says:

"Only" $62 million? Small potatoes in jail. The other scam artists will nickname him "Small-time."

6

 Jun 28, 2013 at 08:30 AM clear-thinker Says:

Reply to #5  
PaulinSaudi Says:

"Only" $62 million? Small potatoes in jail. The other scam artists will nickname him "Small-time."

You are missing the age factor. His scam was completed when he was 25. His moniker among his fellow scam artists will be Gershy the kid.

7

 Jun 28, 2013 at 12:26 PM Toychen Says:

Reply to #4  
Liepa Says:

Cute, very cute!

I heard "Bernala" Madoff was getting lonely in prison. B"H, he will now have more company.

8

 Jun 30, 2013 at 12:25 AM ActualJew Says:

i like 1 and 2's comments. but here is the thing for all you people who blame "anti semites" for covering scandals like madoff and crazy eddy and dweck in NJ: they are, almost exclusively, ripping off Jews, including their families and friends. who else would trust someone with their money?

9

 Jul 01, 2013 at 10:40 AM AShaC Says:

He ran an "elaborate ponzi scheme between 2009 and 2013", but he has "repaid some $25M since he first came forward in 2010"? Is his attorney an idiot or am I missing something? If he repaid past investors with other people's money I'm pretty sure that's still part of the ponzi scheme and not restitution.

10

Sign-in to post a comment

Scroll Up
Advertisements:

Sell your scrap gold and broken jewelry and earn hard cash sell gold today!