CRE 101 Blog

Nightingale Properties CEO Elie Schwartz has been sentenced to 87 months in prison after orchestrating what prosecutors called the biggest fraud in real estate crowdfunding history.
U.S. District Judge Steven Grimberg handed down the sentence in Atlanta, also ordering three years of supervised release. Schwartz had pleaded guilty in February to one count of wire fraud after raising $63M from investors on the CrowdStreet platform in 2022, then diverting roughly $54M to personal luxuries — including a Miami condo, art, payroll at other properties and high-end watches.

​  Nightingale Properties CEO Elie Schwartz has been sentenced to 87 months in prison after orchestrating what prosecutors called the biggest fraud in real estate crowdfunding history.
U.S. District Judge Steven Grimberg handed down the sentence in Atlanta,… Read MoreBisnow News Feed