CRE 101 Blog

It’s been more than a year since Nightingale Properties CEO Elie Schwartz was first accused of embezzling more than $50M from crowdfunding investors who funneled cash into two failed real estate deals. 
While the New York-based developer struck a deal last October to pay back the missing millions, it has been six months since Schwartz stopped making payments as part of that settlement. The trustee overseeing the recovery process, in a webinar with the burned investors this month, acknowledged the biggest question now lingering over the unresolved scandal.
“A couple of you have asked, ‘Why the hell isn’t he in jail yet?’”…

​  It’s been more than a year since Nightingale Properties CEO Elie Schwartz was first accused of embezzling more than $50M from crowdfunding investors who funneled cash into two failed real estate deals. 
While the New York-based developer struck a deal… Read MoreBisnow News Feed