BROOKLYN, NY — A licensed Brooklyn financial advisor has been indicted for allegedly orchestrating a Ponzi scheme that defrauded 10 clients out of approximately $1.24 million over nearly a decade, prosecutors announced Monday.
Marat Likhtenstein, 64, of Sheepshead Bay, was arraigned on multiple grand larceny and fraud charges in Brooklyn Supreme Court, accused of using promissory notes with false promises of high returns to lure investors and fund personal expenses.
Key Points
- Marat Likhtenstein allegedly stole $1.24 million from 10 clients over nearly 10 years.
- He promised 20% returns on vague business ventures but used the funds for personal use.
- Likhtenstein was released without bail and is due back in court on May 21.
Between November 2015 and March 2025, Likhtenstein allegedly issued promissory notes promising 20% interest but refused to disclose details about the supposed business ventures. Prosecutors say he used new investments to pay earlier victims in classic Ponzi scheme fashion.
In total, the indictment includes eight counts of second-degree grand larceny, two counts of third-degree grand larceny, two counts of first-degree scheme to defraud, and 10 counts of violating state business laws.
Brooklyn District Attorney Eric Gonzalez said Likhtenstein convinced unsuspecting investors to hand over money with false assurances. “Guaranteed high returns—especially without clear business details—are often a red flag,” Gonzalez noted.
The defendant was released without bail and is scheduled to return to court on May 21, 2025.
