United States Attorney for the Southern District of New York, Jamie McDonald, and Acting Inspector in Charge of the New York Division of the U.S. Postal Inspection Service (“USPIS”), Darnell Edwards, announced today the unsealing of a Complaint charging ANDREW LAUB with wire fraud for engaging in a scheme to defraud victims out of millions of dollars by inducing them to participate in fraudulent real estate investments. LAUB was arrested in Goldens Bridge, New York, this morning and presented this afternoon before Chief U.S. Magistrate Judge Judith C. McCarthy in White Plains federal court.
“This prosecution once again demonstrates our Office’s commitment to identify and prosecute fraud,” said U.S. Attorney Jamie McDonald. “Andrew Laub’s alleged scheme demonstrates how easily trust can be manipulated for financial gain, and this Office will continue to pursue those who exploit it to defraud others. As alleged, Laub exploited longstanding personal relationships to convince investors to entrust him with millions of dollars for real estate deals that never materialized. Rather than invest their money as promised, Laub allegedly used it to pay off other investors, fund personal expenses, and gamble.”
“This alleged scheme was well-organized as evidenced by the fake documentation Laub showed his investors,” said USPIS New York Division Acting Inspector in Charge Darnell Edwards. “Laub provided a false impression of legitimacy and lured his own friends and family members into this scam, all for personal gain. The Postal Inspection Service is focused on uncovering complex financial crimes, tracing the money, and guaranteeing individuals accused of dishonest tactics are held accountable. Postal Inspectors urge consumers to do their research before investing money and stay vigilant.”
As alleged in the Complaint:
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. LAUB approached friends or acquaintances he had known for years and solicited investments for the purchase, renovation, and resale of properties in New York and elsewhere. LAUB falsely told investors that their money would be invested in real estate properties, including in Westchester and the Bronx, and that they would receive their principal with a substantial return. In several instances, LAUB sent emails to investors describing the properties, the purported purchase price for the properties, and the alleged profits investors would receive. LAUB also created and sent fake emails to investors and signed agreements with investors to lull them into believing that LAUB invested their money in the properties, as promised. LAUB would then continue to solicit investments from these investors for other purported investment opportunities.
In reality, as LAUB later admitted to an investor on a recorded call, LAUB did not invest investors’ money in the properties, as promised. Instead of using victims’ funds as promised, LAUB misappropriated victims’ money, including by using new investors’ money to pay off prior investors in a Ponzi-like scheme and spending investor money on personal items and gambling.
LAUB fraudulently obtained and misappropriated millions of dollars through this scheme and caused more than $5 million in losses to victims.
LAUB, 59, of Goldens Bridge, New York, is charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison.
The maximum potential sentence in this case is prescribed by Congress and provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Mr. McDonald praised the outstanding efforts of the USPIS.
This case is being handled by the Office’s White Plains Division. Assistant U.S. Attorneys Margery Feinzig and Christopher Morel are in charge of the prosecution.
The charge contained in the Complaint is merely an accusation, and the defendant is presumed innocent unless and until proven guilty.