Bassik pleads guilty to $2.3M theft from buildings he managed

Richard Bassik

Property manager Richard Bassik has pleaded guilty to 13 counts of grand larceny and one charge of scheming to defraud, the Manhattan district attorney’s office announced today. Through his company, Downtown Properties, Bassik stole upwards of $2.3 million from the 19 properties he managed, including several high-end co-ops and condominiums, cashing wrongfully issued checks and diverting funds from building bank accounts for his own personal use. The fraudulent activity took place between January 2005 and August 2006, primarily in Lower Manhattan buildings. Among the properties Bassik managed were a mixed-use building at 115 Spring Street and a co-op at 377 West 11th Street. Bassik was formally charged in June and faces a maximum of 15 years behind bars. TRD

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