Brooklyn Building Manager Scams Elderly Residents, AG Says

MIDWOOD, BROOKLYN --A Brooklyn building manager scammed elderly residents out of building shares, lent money to the cooperative at predatory interest rates then gave himself a raise, according to a new suit from the Attorney General's office.

Building manager Joshua Prottas stands accused abusing his managing agent position at 1075 Ocean Parkway for the Working Realty company to barter illegal deals for his own benefit in 2015, Letitia James' office announced Monday.

Prottas allegedly defrauded elderly building shareholders by selling seven apartments to the Midwood Coop Group, which he controlled, in violation of his responsibilities as managing agent, prosecutors said.

The building owner bought the apartments at below-market rates by hiding materials from the elder co-op board members, hid his $100,000 commission from the sale and covered his tracks by filing forged documents to the New York City Office of the Register, prosecutors said.

“Taking advantage of elderly New Yorkers is particularly egregious,” stated James.

“Instead of acting in the best interests of the Cooperative and its residents, the defendants allegedly scammed these individuals and used the funds for personal gain."

James' office will seek restitution and damages for the cooperative.

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