Jared Solomon was found guilty of defrauding Vornado Realty Trust in his federal fraud trial.
He faces a maximum of 13 years in prison.
The former leasing executive was taken into custody from the courtroom after the judge, Loretta Preska, said she had concerns he was a flight risk or was a danger to the public.
The jury found Solomon guilty on all four counts he was charged with: scheme to defraud, aggravated identity theft and two counts of bank fraud.
Solomon’s defense attorney, Peter Toumbekis, declined to comment.
The trial lasted five days. Federal prosecutors at the Southern District of New York made the case that while Solomon worked for more than a decade at the REIT’s leasing department, he set up fake brokerages, which operated on the opposite side of his own deals. He then billed Vornado for millions, spending the money on Westchester and Upper East Side homes, a Porsche and a country club membership. He hid the fact that he was behind the companies, using fake email addresses to communicate with his department.
The prosecution made its closing statement Tuesday. Prosecutor Rita Maxwell addressed the defense’s argument that Solomon’s companies were real and that he had done bonafide work for them, just without telling Vornado about it.
“This is not a situation where there was double-dipping,” she said.
Solomon, who had worked at Vornado for 16 years, had the digital billboard at the REIT’s 1540 Broadway, in Times Square, in his portfolio. It was one of the signs where he played broker to both sides.
The jury deliberated for about an hour and a half before delivering the verdict. Solomon’s sentencing is scheduled for Aug. 4.