The Real Deal New York

Posts Tagged ‘mark benun’

  • Mark Benun

    Convicted mortgage fraudster Mark Benun has been out of prison, living in a halfway house in West Palm Beach, Fla., since Nov. 14. Benun, 38, pleaded guilty to four counts of interstate transportation of stolen property in December 2009 in connection with a mortgage fraud scheme involving the $6 million sale of a Bronx commercial building near Yankee Stadium. He was sentenced the following March to 51 months in prison and three years of supervised release, and ordered to forfeit $5.5 million. He spent the majority of his 42-month prison sentence (including confinement pre-sentencing) in a Fort Dix, N.J. prison. The Real Deal caught up with Benun by phone yesterday, less than three weeks after he was released from prison. [more]

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  • 67-79 East 161st Street and Preet Bharara, the U.S. Attorney for the Southern District of New York

    Landlord Mark Benun
    was sentenced Friday in Manhattan federal court to 51 months in prison
    for a mortgage fraud scheme involving the sale of a $5.9 million
    commercial property at 67-79 East 161st Street near Yankee Stadium in
    the Highbridge neighborhood of the Bronx, according to federal
    prosecutors. Benun was also sentenced to three years of
    supervised release and was ordered to pay forfeiture in the amount of
    $5.5 million, according to the United States Attorney for the Southern
    District of New York, Preet Bharara. “I sold a property that I did not own,” he admitted to the judge, according to a court transcription. Prosecutors
    said that Benun, 35, as owner of a Manhattan-based real estate
    investment firm called MBM1, bought the property for $9.5 million and
    used forged documents to sell the property for $5.96 million, despite
    the fact that he only owned 25 percent of it, according to the
    indictment. He later wired some of the proceeds of the sale to
    out-of-state bank accounts. TRD[more]

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  • Landlord pleads guilty in $6M Bronx sale

    December 11, 2009 02:41PM

    A Bronx property owner pleaded guilty today in Manhattan federal court to charges that he fraudulently sold a commercial building for $5.9 million earlier this year, authorities said.

    According to prosecutors, Mark Benun, 35, partnered with another company to buy the building at 67-79 East 161st Street in 2006 for $9.5 million. Benun, who brokered the deal, was given a 25 percent interest in the property, while the other investor, identified in city property records as Lido Realty of Brooklyn, held a 75 percent interest, according to the US Attorney in Manhattan. Despite his minority interest, Benun sold the property in February 2009 for $5.96 million using forged deed and mortgage documents, prosecutors said.
    Following the bogus sale, Benun wired at least $450,000 to other bank accounts, and in addition withdrew about $1.4 million which he used to buy gold bars in Manhattan. TRD[more]

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  • A Manhattan man was indicted yesterday for interstate transportation of
    the proceeds from the fraudulent sale of a Bronx building, according to
    a press release from the office of Preet Bharara, U.S. attorney for the
    Southern District of New York. The man, Mark Benun, along with an
    unnamed co-purchaser, allegedly bought a commercial property at 67-79
    East 161st Street in the Highbridge neighborhood for $9.5 million in 2006. Benun had a 25 percent
    interest and his co-purchaser had a 75 percent interest in the
    property, which they bought with $4.5 million in cash and a $5 million
    mortgage, the release said. This year, Benun allegedly sold the
    property, of which he claimed to be the sole owner, for $5.96 million.
    Benun created false satisfactions of the property’s mortgages and a
    fraudulent transfer of ownership from his co-owner to Benun, according
    to the release. Benun allegedly withdrew about $1.4 million of the
    proceeds from the sale and purchased gold bars. TRD[more]

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