Houses mid-renovation on a Westchester street.
By June Mercer | November 12, 2026
A 59-year-old New York man is facing a federal wire fraud charge after prosecutors say he spent years pulling millions from friends and acquaintances through a real estate investment pitch he had no legitimate operation to back up.
Andrew Laub, of Goldens Bridge, was arrested Tuesday, November 10, 2026. He appeared that same day before Chief US Magistrate Judge Judith C. McCarthy in White Plains federal court. He faces one count of wire fraud, a charge that carries a maximum prison sentence of 20 years.
US Attorney Jamie McDonald and Acting United States Postal Inspection Service Inspector in Charge Darnell Edwards announced the case.
Credibility as the Tool
According to the Justice Department, Laub built his pitch around a claimed connection to a sizable real estate operation. He held himself out as a developer who had been associated with a firm that owned and managed more than $750 million in assets. That implied track record gave him standing with the people he approached: friends and acquaintances, not strangers.
The investment story itself was concrete and local. Laub told investors their money would go toward the purchase, renovation, and resale of residential properties in Westchester County and the Bronx. He promised to return their principal and deliver substantial profits once the properties sold. For people familiar with New York-area real estate, the pitch had geographic specificity that made it sound credible.
Prosecutors allege what happened to the money bore no resemblance to the promises. Laub allegedly fraudulently obtained and misappropriated the funds, leaving victims with more than $5 million in losses.
Five Years of Alleged Deception
The Justice Department said the scheme ran from at least 2020 through December 2025. That is a span of roughly five years during which, prosecutors allege, Laub continued to solicit money from people who trusted him while the actual losses grew.
That duration matters. Fraud schemes that sustain themselves over years rely on personal trust, something cold financial crimes rarely have. When a pitch comes from someone known to the investor - a friend, an acquaintance, someone with an apparent history in a respected industry - the skepticism that might stop a stranger's approach often does not engage. Laub's alleged claim of affiliation with a firm managing more than $750 million in assets reinforced that trust with implied institutional credibility.
Reporting by Casino.org, attributing details from the case, went further on the victim side. The outlet reported that three identified victims suffered combined losses of approximately $5.76 million. Casino.org also reported that Laub allegedly spent some of the money on personal expenses and gambling.
The Investigation and the Charge
The case is being handled by the Southern District of New York's White Plains Division. Assistant United States Attorneys Margery Feinzig and Christopher Morel are the prosecutors assigned to the matter.
The United States Postal Inspection Service led or participated in the investigation alongside federal prosecutors. USPIS carries broad authority over fraud cases involving mail and wire communications, and its involvement points to the channels through which prosecutors allege Laub conducted the scheme.
Wire fraud, as a federal charge, covers fraud committed using electronic communications: phone calls, emails, text messages. A single count is enough to bring a federal case. The 20-year maximum attached to this charge reflects how severely federal law treats fraud schemes that use those communications to harm victims.
What Comes Next
Laub's case will now move through the federal courts. After his initial appearance before Judge McCarthy on Tuesday, the matter proceeds through the Southern District's standard pretrial process. Given the loss figures cited, sentencing exposure - if the case reaches that point - could be significant. Actual sentences in federal fraud cases depend on a range of factors that judges weigh at sentencing, including total loss amounts, the number of victims, and the defendant's conduct throughout the scheme.
The White Plains courthouse handles cases involving defendants from Westchester and surrounding counties. The Southern District, one of the country's most prominent federal districts, has an established record on complex financial fraud matters. Feinzig and Morel will manage prosecution in that venue.
The Justice Department made one point clear in its announcement: a criminal complaint is an accusation, not a verdict. Andrew Laub is presumed innocent. Nothing in the government's filing constitutes a finding of guilt. That determination belongs to a court, not a press release.
