A Brooklyn financial advisor on Wednesday was indicted with allegedly stealing approximately $852,000 from borough residents in a Ponzi scheme that promised high returns.
Marat Likhtenstein, 65, of Sheepshead Bay, was arraigned on a 10-count indictment in which he is charged with three counts of second-degree grand larceny, two counts of third-degree grand larceny, and five counts of violating General Business Law Section 352-C (6), according to Brooklyn District Attorney Eric Gonzalez.
Between October 28, 2022 and February 5, 2026, the defendant allegedly operated a fraudulent scheme using promissory notes to induce individuals to invest in purported business opportunities. He allegedly claimed he could not discuss the details of the business opportunities with the investors but promised to pay them various rates of return including as high as 30% interest pursuant to the notes, the DA said.
The defendant is accused of stealing $378,500 from a 46-year-old man, $325,000 from a 69-year-old man, $79,000 from a different 46-year-old man, $37,100 from a 68-year-old woman, and $32,400 from a 68-year-old man. All of the victims are from Brooklyn, the DA said.
Instead of investing the funds in business opportunities, the defendant allegedly used the money for personal expenses and to make partial payments to earlier victims of the Ponzi scheme, Gonzalez said.
"This indictment alleges that the defendant carried out a classic Ponzi scheme, exploiting his professional credentials and client relationships to steal hundreds of thousands of dollars," Gonzalez said in a statement. He called the Likhtenstein's actions as a "calculated abuse of trust."
At the time of the alleged scheme, the defendant was a FINRA-licensed financial advisor and a New York State licensed insurance agent registered to sell securities and insurance products through Likhtenstein Financial Planning Inc. His office was located on Avenue V in Sheepshead Bay.
The investigation began following a complaint to the District Attorney’s Action Center. Likhtenstein was previously charged in a separate indictment in March 2025 for stealing approximately $1.24 million from 10 victims in a similar scheme. That case is still pending, the DA said.
The defendant was released without bail and ordered to return to court on April 22, 2026.
People who believe they have been victimized by this defendant are encouraged to contact the Brooklyn District Attorney’s Action Center at 718-250-2340 or to send an email to LikhtensteinComplaints@
