Financial Advisor Accused of Stealing More than $800k from Clients

A Brooklyn financial advisor has been accused of stealing more than half a million dollars from five clients.

Brooklyn District Attorney Eric Gonzalez announced Wednesday, that a licensed  financial advisor was arraigned on an indictment charging him with stealing approximately $852,000 from five people to whom "he issued promissory notes with high rates of return."

Multiple Indictments and More than $1 million Reportedly Stolen in Ponzi Scheme

Marat Likhtenstein, 65, of Sheepshead Bay, Brooklyn was previously charged in a separate indictment in March 2025 with stealing approximately $1.24 million from 10 victims in a similar scheme, issuing them promissory notes promising high rates of return. That case is still pending.

The new 10-count indictment charges him with:

• three counts of second-degree grand larceny;
• two counts of third-degree grand larceny;
• and five counts of violating General Business Law.

The defendant was released without bail and ordered to return to court in April.

The District Attorney said that, between October 28, 2022 and February 5, 2026, Likhtenstein allegedly operated a fraudulent scheme "using promissory notes to induce individuals to invest in purported business opportunities." He reportedly told the clients 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.

 “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," District Attorney Gonzalez said. "As charged, he issued promissory notes promising extraordinary returns, diverted investor funds for personal expenses, and used money from new victims to make payments to earlier ones. This alleged conduct reflects a calculated abuse of trust that we will prosecute vigorously. My office remains committed to holding accountable those who engage in financial fraud.”

Likhtenstein 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's Office said instead of investing the funds in business opportunities, he used the money for personal expenses and to make partial payments to earlier victims of the Ponzi scheme.

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, Brooklyn. People who believe they have been victimized by this defendant are encouraged to contact the Brooklyn DA's Action Center at 718-250-2340 or to send an email to LikhtensteinComplaints@brooklynda.org.