Staten Island Man Sentenced to 36 Months’ Imprisonment for $2.5 Million Real Estate Investment Scheme Targeting Elderly Victims

BROOKLYN, New York, April 4 -- The U.S. Attorney for the Eastern District of New York, Richard P. Donoghue, issued the following news release:

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- Defendant Used Investors' Money for Personal Expenses, Including Pet Supplies, Restaurants and His Child's School Tuition

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Earlier today, at the federal courthouse in Brooklyn, Yevgeniy Braziler was sentenced by United States District Judge Ann M. Donnelly to 36 months' imprisonment for his role in a scheme targeting investors, including numerous elderly victims, by selling them partnerships in fraudulent real estate companies. The amount of restitution will be determined by the Court at a later date.

Richard P. Donoghue, United States Attorney for the Eastern District of New York, and Philip R. Bartlett, Inspector-in-Charge, United States Postal Inspection Service, New York Division (USPIS), announced the sentence.

"Braziler has now been held accountable for fleecing the victims of his fraudulent scheme, many of whom were elderly when they were targeted, and nearly half of whom are now deceased," stated United States Attorney Donoghue. "The Department of Justice and this Office are committed to protecting investors, especially the most vulnerable, from predators like the defendant."

"The day of reckoning has finally arrived for Mr. Braziler who lacked the moral compass to do the right thing for his investment clients," stated USPIS Inspector-in-Charge Bartlett. "In many of these cases, he stole from seniors who worked their entire lives saving for a brighter future. Mr. Braziler will have plenty of time in prison to consider the impact his crimes have had on the victims in this case."

Braziler and his associates promised potential investors, many of whom were elderly and some of whom suffered from dementia, that real estate companies in Brooklyn that he managed would use investments to purchase, renovate, rent and re-sell residential real estate in and around Buffalo and Niagara Falls, promising high returns for the investors. In response, investors sent him over $1.8 million. Instead of using the money for the promised purposes, Braziler stole most of it. For example, investors sent one of Braziler's investment vehicles, Buffalo Housing, at least $978,000, but Braziler purchased only one property for approximately $12,000, and kept most of the money for himself and others. In all, Braziler kept at least $323,510 of investors' money for his own use, which he spent on credit card bills, pet supplies, alcohol, restaurants and his child's school tuition. The investors lost nearly all of their money.

The government's case is being handled by the Office's Business and Securities Fraud Section. Assistant United States Attorney Matthew S. Amatruda is in charge of the prosecution.

The Defendant:

YEVGENIY BRAZILER

Age: 40

Staten Island, New York