The Brooklyn District Attorney’s Office is urging potential victims of an indicted Sheepshead Bay financial advisor to come forward after he was charged this week for allegedly stealing nearly $1.24 million from 10 investors through a Ponzi Scheme.
DA Eric Gonzalez announced that Marat Likhtenstein, 64, was arraigned Monday, March 24, in Brooklyn Supreme Court on multiple charges, including grand larceny and scheme to defraud. He has pleaded not guilty to all charges.
Likhtenstein, who operated Likhtenstein Financial Planning Inc. from an office on Ave. V in Sheepshead Bay, allegedly lured victims with promises of high returns but instead used their funds for personal expenses and to repay earlier investors in a suspected Ponzi scheme.
“This defendant allegedly stole hundreds of thousands of dollars by persuading unsuspecting individuals to invest with false promises of high returns,” Gonzalez said in a statement. “Investors should be mindful that guaranteed high returns — especially without clear business details — are often a red flag.”
Between November 2015 and March 2025, Likhtenstein allegedly told investors he could not disclose details about supposed business opportunities but guaranteed 20% interest on their investments. Instead, prosecutors say, he misused the funds.
Likhtenstein was released without bail and is due back in court on May 21. The investigation into his practice began following a complaint to the Brooklyn District Attorney’s Action Center.
According to his LinkedIn profile, Likhtenstein has led the Sheepshead Bay financial planning business since December 2000, providing services such as financial, retirement, estate, and business succession planning, along with insurance and elder care advising.
Legal representative for Likhtenstein, Michael Giordano, said his team is committed to “vigorously investigate and defend” against the claims made by the DA’s office.
“In his career, Mr. Likhtenstein has dedicated himself to financial advising, consistently serving his clients for nearly 30 years, and has never before faced any allegations of misconduct or criminal activity,” Giordano told Brooklyn Paper. “We ask for patience as we work through the legal system, and respectfully request that the presumption of innocence be upheld until the facts are fully examined.”
Authorities urge anyone who believes they were victimized to contact the DA’s office at 718-250-2340 or via email at LikhtensteinComplaints@brooklynda.org.
