Power Fraud: The Adam Hochfelder Story


As a rising young star in New York real estate, Adam Hochfelder emulated New York legends like Harry Helmsley, buying the billionaire's namesake Helmsley Building at 230 Park Ave., and setting up shop in the former office of Helmsley's widow, Leona. Turns out the 38-year old upstart was emulating another legend, too: Bernie Madoff. Hochfelder was charged this week with bilking millions of dollars out of friends and family -- even his best man -- in phony real estate deals.

"The defendant systematically defrauded his friends, family and business associates out of millions of dollars through phony real estate deals, repeatedly abusing the trust of those who believed he was an upstanding businessman," says Manhattan D.A. Cy Vance Jr, which indicted Hochfeder on charges of grand larceny this week.