MANHATTAN (CN) – A 35-year-old man pleaded guilty to selling a building for $6 million, though he owned only one-quarter of it. Mark Benun took $4 million in cash and a note for $2 million for the building near Yankee Stadium – then sold the note for $1.5 million, federal prosecutors said.
Benun bought the building at 67-79 E. 161st St. in the Bronx with a real estate company in 2006, the U.S. Attorney’s Office said. Benun held only 25 percent interest in it, but he sold it as though it was his alone, and when he got his hands on the money he spent $1.4 million of it on “gold bars.”
He will be sentenced on March 19 for four counts of interstate transportation of stolen property – the wire transfers. Each count is punishable by up to 10 years in prison, and fines.