Landlord pleads guilty in $6M Bronx sale

TRD New York /
Dec.December 11, 2009 02:41 PM

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.

Benun was the owner of a real estate investment firm called MBM1 Owners, located at 275 Madison Avenue.

He pleaded guilty to four counts of interstate transportation of stolen property, and faces up to 10 years in prison and a fine of at least $250,000 for each count, as well as forfeiture of the illegal proceeds, at his sentencing scheduled for March 19. TRD


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
Sheldon Adelson and the Venetian (Getty, The Venetian Resort® Las Vegas)

Sheldon Adelson is leaving Las Vegas (maybe)

Sheldon Adelson is leaving Las Vegas (maybe)
Ray Kroc and his Santa Ynez Valley ranch (Wikimedia, Google Maps)

Huge California ranch owned by McDonald’s CEO Ray Kroc lists

Huge California ranch owned by McDonald’s CEO Ray Kroc lists
(Instagram/lilajdre; iStock)

Arizona agent who hurled racial slurs loses job

Arizona agent who hurled racial slurs loses job
(iStock)

Real estate stocks end week mixed as virus fears rise and markets fall

Real estate stocks end week mixed as virus fears rise and markets fall
CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty)

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market
arrow_forward_ios

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

Loading...