Arthur Brownstein charged with defrauding investor out of $112,000
12:58 PM, Jan 6, 2014
12:02 PM, Oct 30, 2015
WEST PALM BEACH, Fla. - UPDATE:
Arthur Brownstein pleaded guilty to grand theft and a money laundering charge was dropped. On Jan. 6, 2014, he was sentenced to two years in prison and was credited for the 214 days he spent in jail. He was released on Sept. 17, 2015.
A West Palm Beach man has been arrested and charged with defrauding an investor of more than $100,000.
An arrest report from the Palm Beach County Sheriff's Office says that Arthur Brownstein became friends with the victim when he taught a class at a Jewish community center in Palm Beach County.
Brownstein told the victim that he worked for an organ donation center and would try and help the victim, whose relative needed a transplant.
According to the arrest report, Brownstein approached the victim about several investment opportunities that he was involved in.
According to investigators, the victim gave Brownstein a total of $112,000 for the two projects.
Investigators said Brownstein met with the victim and his wife for lunch last year and admitted that everything that he previously said had been lies.
Brownstein says that he lost his job with the Organ Donor Society because of offshore gambling and was desperate for money, according to PBSO.
Deputies arrested Brownstein in connection with running an organized scheme to defraud and grand theft from a person over aged 65. He was booked into the Palm Beach County Jail.