A Brentwood man posing as a real estate agent was arrested Tuesday after cheating an investor of nearly $200,000 in a scam to buy distressed properties, prosecutors said.
Andy Daniel, 48, was arraigned on one count of second-degree grand larceny and bail set at $25,000.
Between April and July 2011, Daniel told a Queens investor that he would negotiate the sale of 49 properties and convinced the investor to hand over $191,300 as down payments, according to Nassau County District Attorney Kathleen Rice.
But many of those properties were not in trouble and some were occupied by the owners, prosecutors said. The properties were spread across eastern Queens and Nassau, in Queens Village, Bellerose, Rosedale, Hempstead and Valley Stream, they said.
After the investor reported the scam to the state Department of Financial Services, investigators discovered that Daniel cashed the 49 checks that were supposed to be placed in escrow to buy the properties, prosecutors said.
Daniel plead not guilty at arraignment, said his attorney James D'Angelo of Central Islip.
"We stand by our plea," D'Angelo said, declining to comment further.
If convicted, Daniel faces a maximum sentence of 5 to 15 years in prison. He is due back in court on Oct. 9.