Former Property Management Executive Pleads Guilty To Four Counts Of Federal Wire Fraud
Orlando, Florida - United States Attorney Robert E. O'Neill announces that Brad Kuskin (34, South Florida) today pleaded guilty to four counts of wire fraud. Kuskin faces a maximum penalty of 20 years in federal prison and a fine of $250,000 on each count. A sentencing date has not been set.
Kuskin was indicted in 2012.
According to the plea agreement, Kuskin served as the managing member of a New York-based property management company, Kravetz Realty Group. The company oversaw the financial affairs of five homeowner and condominium associations in Volusia, Lake and Clay counties. As part of their management contracts with Kravetz Realty Group, the associations granted Kuskin online access to their bank accounts for the purpose of overseeing their finances. From June 2008 to February 2009, without authorization, Kuskin used this access to transfer approximately $600,000 from various association accounts, for his personal use. To conceal the crimes, financial statements that were provided to the associations by Kuskin's company did not reflect the missing funds.
In one instance, an association managed by Kuskin discovered that an operating account, which should have contained more than $85,000, had been depleted to only five cents. When confronted by a representative of the association and by bank officials, in March 2009, Kuskin pledged to restore $50,000 in missing funds "within the hour." However, these funds were never returned.
This case was investigated by the United States Secret Service. It is being prosecuted by Assistant United States Attorney Robert E. Bodnar, Jr.