Queens Man Pleads Guilty to Real Estate Fraud Scheme

Earlier today, in federal court in Brooklyn, Rashidun Bokhari pleaded guilty to wire fraud stemming from a purported real estate investment scheme.  Bokhari was arrested in October 2022.  Today’s proceeding was held before United States District Judge Pamela K. Chen.  When sentenced, Bokhari faces up to 20 years in prison.

Breon Peace, United States Attorney for the Eastern District of New York, announced the guilty plea.

As set forth in court filings, between September 2015 and April 2018, Bokhari induced the victim to invest approximately $935,000 in four different real estate properties located in Long Island City and Astoria in Queens.  Bokhari falsely claimed that in exchange for his investment in the purported real estate transactions, the victim investor would receive a 50 percent ownership in the properties.  Bokhari fabricated real estate transaction documents which he provided to the victim investor.  After receiving almost $1 million, the defendant misappropriated the money for his own personal use, including transferring funds overseas, making mortgage and life insurance payments, and withdrawing cash from ATMs.  As part of his plea agreement, Bokhari has agreed to pay restitution in the amount of $935,000 to the victim.

The government’s investigation also revealed that between December 20, 2020 and May 2022, Bokhari engaged in a separate scheme to defraud two additional victims in Queens.  As part of his plea agreement, Bohkari has agreed to pay these two victims restitution in the amount of $191,100. 

Bokhari’s victims are of Bengali descent and he exploited their shared ethnic background in furtherance of his schemes. 

Anyone who believes they are a victim of a crime committed by Bokhari is asked to contact the United States Attorney’s Office at https://www.justice.gov/usao-edny/report-crime

The government’s case is being handled by the Office’s Business and Securities Fraud Section.  Assistant United States Attorney Lauren Bowman is in charge of the prosecution and the investigation was led by Special Agent Martin Sullivan of the Eastern District of New York.

The Defendant:

RASHIDUN BOKHARI
Age: 57
Astoria, Queens

E.D.N.Y. Docket No. 23-CR-58 (PKC)