Goldens Bridge man charged in $5M Ponzi scheme

By THANE GRAUEL

Federal authorities have charged a Goldens Bridge man with wire fraud, alleging he scammed victims out of more than $5 million through a fraudulent real estate investment scheme.

The U.S. Attorney’s Office for the Southern District of New York on Tuesday unsealed a complaint charging Andrew Laub with wire fraud. He was arrested in Goldens Bridge in the morning and appeared that afternoon before Chief U.S. Magistrate Judge Judith C. McCarthy at federal court in White Plains.

Authorities did not disclose an address, but several LLCs registered with the state list Laub as a contact on Cornel Drive in Goldens Bridge. He is 59.

“This prosecution once again demonstrates our Office’s commitment to identify and prosecute fraud,” U.S. Attorney Jamie McDonald said in a statement. “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 U.S. Postal Inspection Service 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 federal complaint says that between 2020 and December 2025, Laub presented himself as a real estate investor with more than $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,” authorities said. “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.”

The U.S. Attorney’s Office said he later admitted to an investor during a recorded call that instead of investing victims’ money, he misappropriated it, “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.”

The wire fraud count carries a maximum sentence of 20 years in prison.