Former Brooklyn Heights Cinema Owner Cops to Cheating Investors

The NY Daily News reports on Norman Adie, former owner of the Brooklyn Heights Cinema, who duped investors in a scheme to convert the theater into condos:

NY Daily News: The curtain came down on the former owner of the Brooklyn Heights Cinema as he pleaded guilty Monday to bilking investors out of $530,000.

Norman Adie faces 27 to 33 months in prison when he is sentenced April 13 in a plea-bargain agreement. He remains free on a $350,000 bond.

Manhattan federal prosecutors said Adie, 54, defrauded investors by falsely promising to turn the independent movie house into condos.

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  • stuart

    Brooklyn Heights real estate corrupts. It’s like catnip to the crooked.

  • Elmer Fudd

    Did EHinBH buy a con-do there?

  • Andrew Porter

    No worse than Hosni Mubarak’s attempt while in office to defraud the populace with…pyramid schemes…

  • Elmer Fudd

    @Andrew Porter. I like it!

  • AmyinBH

    That works out to “earning” Aprox. $16,060.60 per month if he serves 33 months.

  • Brooklyn Tea

    It sounds like he might be a graduate of the John Corzine School of Management. His favorite course ” how to make millions…disappear and not be held accountable”.

  • Knight

    @AmyinBH: this was a Daily News article … not often a high standard in journalism … so it’s very possible that the author left out a part of the plea bargain that covers restitution. Maybe we’ll find out the whole truth when Adie is sentenced in April!

  • Elmer Fudd

    I’d volunteer to go to jail for $16,000 a month. $533 a day is pretty good.

  • AL

    Anybody got a link to a photo of him? Google searches unsuccessful so far. Wanna know if I ever crossed paths/broke bread with the creep.