Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Businessman Pleads Guilty in Scheme to Steal Millions

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Businessman Pleads Guilty in Scheme to Steal Millions

Article excerpt

A Point Breeze landlord pleaded guilty Monday to federal charges in connection with a ploy to steal several million dollars from Israeli nationals in a real estate venture that U.S. prosecutors likened to a Ponzi scheme.

Golan Barak, 49, who ran Ergo Management, had been indicted last year on nine counts of wire fraud following a long investigation by the FBI and IRS into his real estate dealings in the city and across the region.

He pleaded guilty Monday to one of those counts in a deal with the U.S. attorney's office and will be sentenced by U.S. District Judge Donetta Ambrose in August.

A federal grand jury in October said Mr. Barak persuaded investors, most of them Israelis and many of whom traveled to Pittsburgh from overseas, to become partners with him in buying properties in and around the city as well as in McKeesport, Ben Avon, Penn Hills and elsewhere. …

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