Westchester Man Charged With Taking Millions From Friends for Real Estate Deals Prosecutors Say Never Happened

Published Nov. 11, 2026. Case status is current as of that date.

The pitch, as federal prosecutors describe it, came from someone the investors had known for years: put money into buying, renovating and reselling houses in Westchester, the Bronx and elsewhere, and get your principal back with a substantial return. Emails described the properties, the purchase prices and the expected profits.

Prosecutors say the deals never happened. On Nov. 10, 2026, the U.S. Attorney's Office for the Southern District of New York announced the unsealing of a complaint charging Andrew Laub, 59, of Goldens Bridge, New York, with one count of wire fraud. Laub was arrested in Goldens Bridge that morning and presented the same afternoon before Chief U.S. Magistrate Judge Judith C. McCarthy in White Plains federal court [1].

Important: Laub is charged, not convicted. The release states that "the charge contained in the Complaint is merely an accusation, and the defendant is presumed innocent unless and until proven guilty" [1].

What the complaint alleges

According to the complaint, as summarized by the U.S. Attorney's Office [1]:

• The credentials. From at least 2020 through December 2025, Laub "held himself out to be a real estate developer formerly associated with a real estate investment firm that owned and managed over $750 million in assets." The release does not name the firm.
• The people he approached. He solicited friends or acquaintances he had known for years.
• The promise. He said their money would go into specific properties, including in Westchester and the Bronx, and that they would get their principal back plus a substantial return.
• The paperwork. He allegedly sent emails describing properties, purchase prices and expected profits, and "created and sent fake emails to investors and signed agreements with investors" to convince them their money had been invested as promised. He then allegedly asked the same investors to put money into other opportunities.
• The reality. Prosecutors say Laub did not invest the money. Instead, they allege, he used new investors' money to pay earlier investors "in a Ponzi-like scheme" and spent investor money on personal items and gambling.
• A recorded admission. The release says Laub "later admitted to an investor on a recorded call" that he did not invest the money in the properties as promised.
• The losses. Prosecutors say the scheme caused more than $5 million in losses.

The release does not name any investor or property, and neither do we.

U.S. Attorney Jamie McDonald said: "As alleged, Laub exploited longstanding personal relationships to convince investors to entrust him with millions of dollars for real estate deals that never materialized" [1].

The person charged and his status

Andrew Laub, 59, of Goldens Bridge, N.Y. Charged by complaint with one count of wire fraud, which carries a maximum of 20 years in prison. Arrested and presented Nov. 10, 2026, in White Plains [1]. The charge is by complaint, not indictment, and he has not been convicted. The release does not say whether he was released or detained, and it does not give a case number or next court date.

The U.S. Postal Inspection Service investigated. Assistant U.S. Attorneys Margery Feinzig and Christopher Morel of the office's White Plains Division are prosecuting [1]. We found no public statement from Laub or a defense lawyer.

Why "a friend's deal" is a common setup

Postal Inspection Service Acting Inspector in Charge Darnell Edwards said the alleged scheme "was well-organized as evidenced by the fake documentation Laub showed his investors," and added: "Postal Inspectors urge consumers to do their research before investing money and stay vigilant" [1].

Real estate is a common vehicle for investment fraud for a simple reason: the asset is real, local and easy to picture. You can drive past the house. That makes it easy to skip the harder question of whether your money is actually tied to that property. When the pitch comes from a long-time friend, people often skip the checks they would demand from a stranger. Regulators call that pattern affinity fraud.

Red flags

These are general warning signs, not claims about any person beyond what the complaint alleges.

• Your name isn't on anything. No deed, mortgage, LLC operating agreement, or recorded interest ties you to the property.
• Updates only come by email from the promoter. No closing statements, title documents or county records you can check yourself.
• A quick "next deal." Being asked to roll profits into, or add money to, a new project before the first one has paid out.
• Big-name credentials you can't verify, such as a past role at a large investment firm.
• Steady payouts that arrive on schedule no matter what happens in the housing market. In a Ponzi scheme, early payments come from later investors.

What to do if you're targeted

1. Look up the property yourself. County clerk and land records show who owns a property, when it sold and for how much. In New York City, ACRIS is free online.
2. Ask how your interest is documented. A legitimate deal should give you a recorded lien, an ownership stake in a named LLC, or a promissory note backed by the property, plus closing documents from a title company or attorney.
3. Send money to an escrow or title company, not to the promoter's personal account.
4. Check registration. Pooled real estate investments are often securities. Look the person up on FINRA BrokerCheck (brokercheck.finra.org) and ask your state securities regulator whether the offering is registered or exempt.
5. If you think you've been defrauded, keep every email and agreement and report it to the FBI at tips.fbi.gov, the SEC at sec.gov/tcr, and your state attorney general. Mail-related fraud can also be reported to the U.S. Postal Inspection Service at uspis.gov/report.

Case status (as of Nov. 11, 2026)

Defendant	Court	Status	Source
Andrew Laub, 59, Goldens Bridge, N.Y.	U.S. District Court, Southern District of New York (White Plains)	Charged by complaint with one count of wire fraud; arrested and presented Nov. 10, 2026; not convicted; presumed innocent	[1]

Statuses can change. The release does not give a case number or next court date.

Sources

1. U.S. Attorney's Office, Southern District of New York, "New York Man Charged In Multimillion-Dollar Real Estate Fraud Scheme," Nov. 10, 2026. https://www.justice.gov/usao-sdny/pr/new-york-man-charged-multimillion-dollar-real-estate-fraud-scheme

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Corrections and updates: If you are named in this article, or represent someone who is, and believe anything here is inaccurate or out of date (including a dismissal, acquittal, or change in case status), please contact us at editorandchief@scammers.com. We will review it and update the article promptly.