The Real Deal Miami

Former New York cop charged for Miami-based real estate fraud

May 17, 2012 12:00PM

Prosecutors in New York have charged James Monahan on fraud charges for allegedly stealing $4.7 million from investors in a  Miami-based firm called BridgePoint Ventures, the New York Daily News reported. “The defendants’ alleged scheme was as effective as it was audacious,” said Janice Fedarcyk, director of the New York FBI. “Preying on the confidence of the investors, the defendants sold them on a real estate deal that never became a reality.” The deal reportedly involved a Dominican Republic project. [NYDN]