KINGSTON – A Hurley man pled guilty in Ulster County on Monday to grand larceny and scheme to defraud, both as felonies.
During his plea, John Benkert, 51, admitted to stealing more than $320,000 from local businessmen and friends using fraudulent pretenses.
Based on promises of a quick investment turnaround with substantial profit,
investors lent him money at a time when Benkert had no intention or financial
capability of repaying the advances.
He was arrested after a long-term investigation by State Police and the Ulster County District Attorney’s Office, which revealed his scheme involved the alleged development of a mall in the State of Connecticut.
He is scheduled to be sentenced in August.
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