NEW YORK – The Joseph Greenblatt saga is finally over, at least the New York City version of it.

Five years and 114 court appearance after his arrest, the admitted swindler was sentenced Wednesday to six to 18 years in state prison in New York in exchange for his guilty plea for defrauding investors in his Paramus-based real estate investment company out of $31 million.

Greenblatt, 50, was arrested in 2007 and indicted on 32 counts of grand larceny and fraud through a Ponzi scheme he organized with his company, Maywood Capital. But the case was put on a bank burner while he served prison terms on unrelated charges of swindling investors in an earlier Brooklyn-based company and for defrauding the federal Housing and Urban Development department dating back to 1995.

He has been in jail since early in 2006, most recently on Rikers Island in New York.

While Wednesday’s sentencing was the final step in New York, Greenblatt still faces criminal charges in Hackensack. He is accused of bouncing more than 30 checks to investors worth $1.3 million. Those violations involve many of the same victims as in the Manhattan case, so whatever sentence is imposed is likely to be concurrent with the New York sentence.

Earlier, two co-defendants who served as attorneys for Maywood Capital, former Elmwood Park Council President Joseph Mongelli and Peter Vogel of Teaneck, pleaded guilty to their role in the fraud. Because of health problems, Vogel was sentenced to probation while Mongelli was sentenced in May to six months in jail.

Source: The Record


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