New York – Earlier today, at the federal courthouse in Brooklyn, Yevgeniy Braziler pleaded guilty to one count of securities fraud for orchestrating a scheme to target investors, including numerous elderly victims, by selling them partnerships in fraudulent real estate companies. The guilty plea took place before United States District Judge Anne M. Donnelly.
Richard P. Donoghue, United States Attorney for the Eastern District of New York, and Philip R. Bartlett, Inspector-in-Charge, United States Postal Inspection Service, New York Division (USPIS), announced the guilty plea.
Braziler and his associates promised potential investors that the real estate companies in Brooklyn that he managed would purchase, renovate, rent and re-sell residential real estate in the Buffalo and Niagara Falls, New York areas. In response to Braziler’s solicitations, investors sent him over $1.8 million. Instead of using the money for the promised purposes, Braziler stole most of the funds. For example, investors sent one of Braziler’s investment vehicles at least $978,000, but Braziler purchased only one property for at most $12,000, and took most of the remaining funds for himself and his associates. The investors lost nearly all of their money.
When Braziler is sentenced, he faces a maximum of 20 years’ imprisonment.
The government’s case is being handled by the Office’s Business and Securities Fraud Section. Assistant United States Attorney Matthew S. Amatruda is in charge of the prosecution.
Residence: Staten Island, New York
E.D.N.Y. Docket No. 17-CR-385 (AMD)
SOURCE: news provided by JUSTICE.GOV on Thursday, October 11, 2018.