Developer Admits Stealing From Investors, On Hook For $13M

By Pete Brush · February 27, 2026, 4:07 PM EST

A Florida developer told a Manhattan federal judge Friday that he misappropriated the proceeds of membership interests in real estate projects he pitched to investors, copping to a count of securities...

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Case Information

Case Title

USA v. SCHUSTER

Case Number

1:25-cr-00204

Court

New York Southern

Nature of Suit

Date Filed

May 06, 2025