April 10, 2006
Police in New York have arrested Thomas Mark Kirshner, charging him with a number of real estate investment scams stretching back more than 20 years, defrauding victims out of at least $5 million.
Wanted on 39 counts of fraud in Toronto alone, Kirshner was nabbed by New York police at a Manhattan hotel, acting on a tip.
Victims describe Kirshner as charming and articulate. They say he would often impress his victims by arriving for meetings in a stretch limo or helicopter.
Police said news of his arrest might prompt other victims to step forward, but so far they know of 10 people who were swindled to the tune of $5 million.
Police say victims were promised significant returns, with suggestions that other high rollers, such as Donald Trump or the Reichmann family were also part of the deal. However, they say Kirchner was simply a name dropper who often spent his victims' investments. Few ever saw any kind of return on their investment and many lost their life savings.
