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.
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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.
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…
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?
he should tell everyone he is a democrat and get a few pictures with obama, then he can do stuff that Corzine does
“Only” $62 million? Small potatoes in jail. The other scam artists will nickname him “Small-time.”
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?
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.