A man who once thought he was on top of the world, Adam Hochfelder, is a real estate scam artist that stole about two and a half million dollars from close friends and business associates, he even defrauded the best man at his own wedding ceremony. His mastermind plan convinced these individuals that he was planning to buy upscale hotels in Colorado and New York.
During the peak of his career he would brag about owning 2.7 billion dollars in New York skyscrapers. Back in mid 2007 Adam tricked his associates into giving him money for two hotels in which negotiations had already fell through the cracks. This former millionaire is now faced with 31 counts of identity theft and grand larceny in the State Supreme Court in Manhattan for his scandalous ways.
An assistant of the Manhattan’s district attorney, Tanya Apparicio, says that Adam used the funds he stole to pay off legal bills, his rent, luxury trips on a private jet, and school tuition for his children. During this time she said he also attempted to forge emails by other investors to release money from their account so he could acquire the funds. These new charges come after another lawsuit was filed against him back in 2008 when he was accused of defrauding investors, friends, and banks into giving him seventeen million dollars. Again he did this by deceiving his associates and forging documents that made him look like he had a lot more collateral than he really did.
At this time Adam was given the chance to come clean and admit his wrong doings, but he did not. On Monday, he pleaded to the courts not guilty and was granted bail at one million dollars.