Defendant charged with stealing more than $1.3 million in real estate Ponzi scheme
Told victims she could purchase Brooklyn properties at 'private auction'
A defendant has been charged in Brooklyn Supreme Court with stealing more than $1.3 million from 14 victims in a fraudulent real estate investment scheme in which victims were allegedly told their money would be used to purchase discounted Brooklyn properties at a private auction.
It is alleged that no properties were ever purchased and that the defendant reimbursed some money to older investors, who demanded their funds, using money from more recent investors, according to the Brooklyn District Attorney’s Office.
The defendant, Regine Norman, aka Regine Ellis, 66, was arraigned on Thursday before Brooklyn Supreme Court Justice Danny Chun on a 40-count indictment in which she is charged with second- and third-degree grand larceny, first-degree scheme to defraud, second-degree criminal possession of a forged instrument and related charges.