Mitch Kossoff, the now-disbarred actual property legal professional who stole hundreds of thousands from his purchasers, will get out of jail early after serving slightly greater than 4 years.
Kossoff, 72, has been incarcerated on the Groveland Correctional Facility in Western New York since Could of 2022 after he was sentenced to as much as 13.5 years in jail for stealing greater than $14.6 million.
Kossoff went earlier than the parole board in June and was authorised for early launch, in line with a spokesperson for the state Division of Corrections. The reasoning behind the board’s resolution was not instantly obtainable.
Craig A. Rothfeld, a marketing consultant who works with jail inmates, despatched an electronic mail final week saying Kossoff shall be launched on Tuesday.
“Good afternoon family and friends, Mitch requested that I share with you that he’s set to be launched this Tuesday, September 22 and can contact base with all of you as quickly as sensible,” he wrote. “He should meet with parole inside 24-hours which is regular.”
“He once more thanks all of you on your love and assist.”
Rothefield declined to remark additional.
That is at least the second time the disbarred legal professional met with the parole board looking for early launch. Kossoff went earlier than the board in September of final 12 months, however was denied.
Kossoff was as soon as a strong legal professional who represented a few of New York Metropolis’s greatest multifamily homeowners, together with main rent-regulated landlords reminiscent of Steve Croman of 9300 Realty, Terrence Lowenberg and Todd Cohen’s Icon Realty Administration and Larry Gluck’s Stellar Administration.
However Kossoff was additionally answerable for working a struggling household packaging enterprise, and he used stolen funds that he held in escrow for his purchasers to attempt to preserve the enterprise afloat. His Ponzi-like plan got here crashing down in early 2021 when purchasers demanded their a reimbursement, and Kossoff went AWOL.
He finally turned himself in and a 12 months later pleaded responsible to 1 rely of fraud and three counts of grand larceny.
It’s not clear what Kossoff, who was disbarred in 2022, will do upon his launch. However the tangled fraud he left in his wake continues to be being unpacked.
Albert Togut, the court-appointed trustee overseeing the Chapter 7 chapter of Kossoff’s legislation agency, has spent the previous a number of years making an attempt to claw again stolen funds. Earlier this month he sued JPMorgan Chase, alleging the financial institution knew of Kossoff’s theft and did nothing to cease it.
He’s looking for $18.5 million from the financial institution.
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