Sheepshead Bay advisor accused of siphoning $852K from clients
BROOKLYN, NY – A Brooklyn financial advisor is accused of stealing approximately $852,000 from five clients through promissory notes promising high returns, in what prosecutors describe as a Ponzi scheme that diverted investor funds for personal expenses and payments to earlier victims.
Brooklyn District Attorney Eric Gonzalez announced Wednesday that Marat Likhtenstein, 65, of Sheepshead Bay, was arraigned before Brooklyn Supreme Court Justice Danny Chun on a 10-count indictment.
Likhtenstein is charged with three counts of second-degree grand larceny, two counts of third-degree grand larceny and five counts of violating General Business Law Section 352-C (6). He was released without bail and ordered to return to court on April 22.
Prosecutors allege that between October 28, 2022 and February 5, the defendant used promissory notes to solicit investments in purported business opportunities, claiming he could not disclose details but promising returns of up to 30 percent interest.
According to the indictment, he is accused of stealing $378,500 from a 46-year-old man, $325,000 from a 69-year-old man, $79,000 from another 46-year-old man, $37,100 from a 68-year-old woman and $32,400 from a 68-year-old man. All five alleged victims are Brooklyn residents.
Prosecutors allege the funds were not invested as promised but instead used for personal expenses and to make partial payments to earlier investors.
The defendant was previously charged in a separate March indictment alleging he stole approximately $1.24 million from 10 victims in a similar scheme. That case remains pending.
At the time of the alleged conduct, Likhtenstein was a FINRA-licensed financial advisor and a New York State licensed insurance agent registered through Likhtenstein Financial Planning Inc., with an office on Avenue V in Sheepshead Bay.
The investigation began following a complaint to the Brooklyn District Attorney’s Action Center and involved members of the Asset Forfeiture and Crimes Against Revenue Bureau, the Investigations Division and KCDA Detective Investigators.
The charges are allegations and the defendant is presumed innocent unless and until proven guilty in court.
Key Points
- Marat Likhtenstein, 65, was indicted on charges tied to an alleged $852,000 Ponzi scheme
- Prosecutors say five Brooklyn clients were issued promissory notes promising returns up to 30 percent
- The defendant was previously charged in a separate $1.24 million case that remains pending
