A bankrupt New York property developer was indicted on Wednesday for stealing more than $86 million from investors through an elaborate series of schemes dating back to 2015, authorities said.
Nir Meir was arrested in the southeastern state of Florida on Monday on a New York state warrant, the Miami-Dade police department confirmed to AFP.
Meir, 49, and his accomplices allegedly stole the money from investors, contractors and city authorities, New York prosecutors said.
“These indictments depict allegations of widespread fraud within the real estate industry primarily spearheaded by one man: Nir Meir,” said Manhattan District Attorney Alvin Bragg.
Meir filed for bankruptcy in Florida on February 1, reporting debts of almost $30 million including thousands of dollars owed to credit card companies and a disputed $626,000 debt owed to American-Israeli mogul Benny Shabtai.
A court filing showed that Meir reported to have just $50-worth of assets — and monthly expenses of $37,400.
He had been living in a luxurious, high-rise beachfront property in Miami, the filing showed.