Mitch Kossoff, the now-disbarred actual property lawyer who stole thousands and thousands from his purchasers, will get out of jail early after serving somewhat greater than 4 years.
Kossoff, 72, has been incarcerated on the Groveland Correctional Facility in Western New York since Could of 2022 after he was sentenced to as much as 13.5 years in jail for stealing greater than $14.6 million.
Kossoff went earlier than the parole board in June and was accepted for early launch, in keeping with a spokesperson for the state Division of Corrections. The reasoning behind the board’s choice was not instantly out there.
Craig A. Rothfeld, a advisor who works with jail inmates, despatched an e-mail final week saying Kossoff can be launched on Tuesday.
“Good afternoon family and friends, Mitch requested that I share with you that he’s set to be launched this Tuesday, September 22 and can contact base with all of you as quickly as sensible,” he wrote. “He must meet with parole inside 24-hours which is regular.”
“He once more thanks all of you in your love and help.”
Rothefield declined to remark additional.
That is at least the second time the disbarred lawyer met with the parole board looking for early launch. Kossoff went earlier than the board in September of final yr, however was denied.
Kossoff was as soon as a robust lawyer who represented a few of New York Metropolis’s greatest multifamily house owners, together with main rent-regulated landlords equivalent to Steve Croman of 9300 Realty, Terrence Lowenberg and Todd Cohen’s Icon Realty Administration and Larry Gluck’s Stellar Administration.
However Kossoff was additionally accountable for operating a struggling household packaging enterprise, and he used stolen funds that he held in escrow for his purchasers to attempt to maintain the enterprise afloat. His Ponzi-like plan got here crashing down in early 2021 when purchasers demanded their a refund, and Kossoff went AWOL.
He ultimately turned himself in and a yr later pleaded responsible to 1 depend of fraud and three counts of grand larceny.
It’s not clear what Kossoff, who was disbarred in 2022, will do upon his launch. However the tangled fraud he left in his wake continues to be being unpacked.
Albert Togut, the court-appointed trustee overseeing the Chapter 7 chapter of Kossoff’s legislation agency, has spent the previous a number of years attempting to claw again stolen funds. Earlier this month he sued JPMorgan Chase, alleging the financial institution knew of Kossoff’s theft and did nothing to cease it.
He’s looking for $18.5 million from the financial institution.
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