Harlem man charged with fraud, larceny for trying to sell a building that wasn’t his

New York /
Oct.October 15, 2009 09:28 AM

A Harlem man has been charged with fraud and larceny, after allegedly swindling millions in investments in a building he pretended to own. Prosecutors say that Henry Vargas, 35, forged documents to show he owned a 60 percent stake in 21-41 Lenox Avenue, otherwise known as the Triangle Building in Harlem. He is said to have obtained the necessary information by posing as a buyer, and used it to convince the New York Road Runners Club, which runs the New York City Marathon, to sign an $8.5 million contract to buy the building from him. The money has been recovered, but the non-profit lost $300,000 in legal fees and other expenses. Vargas also allegedly persuaded plumber and investor Pete Skyllas to pony up $1 million for an option to purchase the building, which was converted into a fake mortgage when Skyllas couldn’t come up with the asking price. The Triangle Building is actually owned by Manuel Duran Jr., who did not know about the alleged scam. [NYDN] 


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
The parcel of land in Causeway Bay (Google Maps)
Hong Kong sells Causeway Bay site for $2.5B
Hong Kong sells Causeway Bay site for $2.5B
(Beverly Hills Estates)
Another massive property outside LA lists for $75M
Another massive property outside LA lists for $75M
Lachlan Murdoch and the home on Sydney Harbor (Getty, Private Property Global)
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
Lachlan Murdoch pays $30M for half-acre Sydney Harbor boat house
Major real estate stocks ended in negative territory this week. (Getty)
Real estate stocks, markets jittery over inflation
Real estate stocks, markets jittery over inflation
Closing time: HFZ vacates the XI sales gallery in Chelsea
Closing time: HFZ vacates the XI sales gallery in Chelsea
Closing time: HFZ vacates the XI sales gallery in Chelsea
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...