Brooklyn Attorney Charged In $4 Million Real Estate Scam: Feds
Shimon Rosenfeld is accused of using millions from real estate investors, including for a Crown Heights project, for his own trading.
BROOKLYN, NY — A Brooklyn attorney who scammed real estate investors out of millions of dollars has been charged with wire fraud, prosecutors announced.
Shimon Rosenfeld, 59, was arrested Wednesday after a federal investigation into his years-long scheme, which included at least $4 million “investments” in properties in Crown Heights, Greenpoint and in Philadelphia, Pa., according to court documents.
Rosenfeld told at least four investors that he would put their money into real estate projects, but instead ended up using the money for his own trades out of a brokerage account, prosecutors said. He is charged with wire fraud and could face 20 years in prison if convicted.
“Through this alleged scheme, Rosenfeld abused his position as an attorney and betrayed his victims’ trust for his own selfish gain,” stated Acting United States Attorney Seth DuCharme. Those who commit fraud, including lawyers, must be brought to justice, and this Office will continue to work tenaciously to ensure integrity in the practice of law.”To continue reading, click here.