A Brooklyn financial advisor, Marat Likhtenstein, has been charged with larceny and fraud for allegedly operating a Ponzi scheme that defrauded approximately $1.24 million from 10 clients. The Brooklyn District Attorney's office announced the indictment, with DA Eric Gonzalez saying that Likhtenstein lured investors with "false promises of high returns." Investors were left with promissory notes assuring a 20 percent return, as Gonzalaz stated, “This defendant allegedly stole hundreds of thousands of dollars by persuading unsuspecting individuals to invest with false promises of high returns. Investors should be mindful that guaranteed high returns—especially without clear business details—are often a red flag. We will now seek to hold this defendant accountable and secure justice for those affected.”
The charges against Likhtenstein include eight counts of second-degree grand larceny, two counts of third-degree grand larceny, two counts of first-degree scheme to defraud, and 10 counts related to violations of General Business Law. Likhtenstein, a registered financial advisor and New York State licensed insurance agent, is accused of having operated the fraudulent scheme between November 2015 and March 2025, according to the Brooklyn District Attorney's Office. Instead of legitimately investing client funds, he allegedly used the capital for personal spending and to improperly pay earlier victims of the scheme.
He was a FINRA-licensed advisor, offering both securities and insurance products through his business, Likhtenstein Financial Planning Inc., based out of Sheepshead Bay. His arraignment before Brooklyn Supreme Court Justice Danny Chun led to his release without bail, with a court return date set for May 21. The case against Likhtenstein was built following a complaint that initiated an investigation by the District Attorney's Action Center.
Victims of Likhtenstein's alleged scheme are being urged to directly contact the Brooklyn District Attorney’s Action Center at 718-250-2340 or by sending an email to [email protected]. The collaborative effort by the District Attorney’s team included Chief Financial Investigator Ludwig Sanchez, Financial Investigator Jose Carlos Covas, Intelligence Analyst Veranika Basak, and KCDA Detective Investigators, all contributing to gathering evidence in the case. Assistant District Attorney Michael Choi is the lead prosecutor, with the backing of the Investigations Division's senior staff.
