Adam Hochfelder
The criminal case against former businessman and alleged fraudster Adam Hochfelder, who is the target of a 58-charge 2008 indictment, just got even more grandiose. Hochfelder, who already stands accused of stealing more than $17 million from lenders, business partners and even his own family, now faces a second indictment from the Manhattan district attorney, this time for stealing $2.5 million from investors for the supposed purchase of the Sagamore Hotel and Peaks Resort. The second indictment contends that Hochfelder never intended to use the money he acquired from investors to purchase the Lake George and Telluride, Colo. properties, but rather used it to repay other creditors and go on spending sprees. All told, this second indictment includes 31 individual charges, including one count of first-degree grand larceny and 12 separate counts of identity theft. TRD