LI man pleads guilty to Ponzi scheme - New York News

LI man pleads guilty to Ponzi scheme

Posted: Updated:

 

WOODMERE, N.Y. (AP) - A Long Island man has pleaded guilty to operating a Ponzi scheme that duped real estate investors of $62 million.

Gershon Barkany on Wednesday also agreed to repay investors.

The 29-year-old Barkany faces up to 20 years in prison for wire fraud.

According to Newsday,  Barkany's attorney says his client has repaid more than $25 million since 2010 when he met with investors to confess he had "misappropriated" funds. The attorney said not all of the 29-year-old's investments were illegal.

Prosecutors say the scheme ran from 2009 to March 2013.

Barkany allegedly duped the investors by claiming he would invest the money "risk-free" in properties in New York City and Atlantic City and then sell them at a profit.

 

Information from: Newsday, http://www.newsday.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Long Island NewsLong Island NewsMore>>

  • Helping amputees achieve their potential

    Helping amputees achieve their potential

    Tuesday, April 15 2014 6:57 PM EDT2014-04-15 22:57:41 GMT

    A Step Ahead Prosthetics in Hicksville, Long Island, customizes prosthetics for people from all over the world. There are cosmetic ones made to mimic actual skin and lightweight "blades" made of carbon graphite designed for running. Aviva Drescher of "The Real Housewives of New York City" wears a prosthetic.

    A Step Ahead Prosthetics in Hicksville, Long Island, customizes prosthetics for people from all over the world. There are cosmetic ones made to mimic actual skin and lightweight "blades" made of carbon graphite designed for running. Aviva Drescher of "The Real Housewives of New York City" wears a prosthetic.

  • Lindsay Lohan's mom pleads guilty to DWI in NY

    Lindsay Lohan's mom pleads guilty to DWI in NY

    Actress Lindsay Lohan's mother has pleaded guilty in New York to a misdemeanor charge of driving while intoxicated. Dina Lohan also pleaded guilty to speeding during her court appearance Tuesday on Long Island.
    Actress Lindsay Lohan's mother has pleaded guilty in New York to a misdemeanor charge of driving while intoxicated. Dina Lohan also pleaded guilty to speeding during her court appearance Tuesday on Long Island.
  • Driver transporting dozens of drunk teens arrested

    Driver transporting dozens of drunk teens arrested

    Tuesday, April 15 2014 1:23 PM EDT2014-04-15 17:23:39 GMT
    A limousine bus driver on Long Island was arrested after the New York State police found he was transporting a bus full of drunk teens.Police say it happened Monday night at a Sunrise Highway rest area in Southampton.Someone called 911 to report a female screaming at the eastbound rest area between exit 65 and 66.Troopers arrived and found 42 teens between the ages of 16 and 17 in various stages of intoxication.The found more than 100 cans of beer on the bus, along with several gallons worth ...
    A limousine bus driver on Long Island was arrested after the New York State police found he was transporting a bus full of drunk teens.Police say it happened Monday night at a Sunrise Highway rest area in Southampton.Someone called 911 to report a female screaming at the eastbound rest area between exit 65 and 66.Troopers arrived and found 42 teens between the ages of 16 and 17 in various stages of intoxication.The found more than 100 cans of beer on the bus, along with several gallons worth ...
  • Local NewsLocal NewsMore>>

  • New SAT: What will those questions look like?

    New SAT: What will those questions look like?

    Wednesday, April 16 2014 5:05 PM EDT2014-04-16 21:05:28 GMT
    Calculate the foreign exchange rate a vacationing American would pay in India. Estimate from a random sample the number of 18- to 34-year olds who voted for a candidate. These are sample questions from the newly redesigned SAT, which aims for more real-world applications and analysis from students.
    Calculate the foreign exchange rate a vacationing American would pay in India. Estimate from a random sample the number of 18- to 34-year olds who voted for a candidate. These are sample questions from the newly redesigned SAT, which aims for more real-world applications and analysis from students.
  • Pizza man attacked, shoots would-be robber

    Pizza man attacked, shoots would-be robber

    Wednesday, April 16 2014 4:34 PM EDT2014-04-16 20:34:37 GMT
    New York State NewsNew York State News
    This guy packs more than pepperoni. Police say a masked robber is in the hospital after a pizza delivery man shot at a gang of would-be thieves. Police tell local media outlets that the delivery man brought a pizza to a house around 10:30 p.m. Monday and was met in the front hallway by a man wearing a mask and hoodie.
    This guy packs more than pepperoni. Police say a masked robber is in the hospital after a pizza delivery man shot at a gang of would-be thieves. Police tell local media outlets that the delivery man brought a pizza to a house around 10:30 p.m. Monday and was met in the front hallway by a man wearing a mask and hoodie.
  • Giant whale pulled out of Jersey City harbor

    Giant whale pulled out of Jersey City harbor

    Wednesday, April 16 2014 2:04 PM EDT2014-04-16 18:04:35 GMT
    A whale that was found dead earlier this week in New York harbor has been transported to the Caven Point Marine Terminal in Jersey City.
    A whale that was found dead earlier this week in New York harbor has been transported to the Caven Point Marine Terminal in Jersey City.   The United States Army Corps of Engineers successfully extracted the 60 ton giant from the water around on Wednesday. 
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices