Former North Miami Beach Mayor Myron Rosner is facing several charges after he obtained $150,000 in a fraudulent investment.
After making a series of false representations to investor Dr. David Rosenbaum, Rosner obtained $150,000 to develop 2.2 acres of vacant land in North Miami.
Rosner failed to gain any additional investors.
But rather than returning Dr. Rosenbaum’s $150,000, the money was allegedly spent:
- Paying $13,000 on Rosner and Zabel’s home mortgage
- Paying Rosner $86,700
- Paying Rosner’s construction company $10,000
- Paying $30,000+ in personal expenses through Rosner’s construction company
Ultimately the investment account was left with a balance of $350.00.
Myron Rosner is charged with:
- 1 count Securities Fraud (3rd Degree Felony)
- 1 count Sale of an Unregistered Security (3rd Degree Felony)
- 1 count Sale of Security by an Unregistered Dealer (3rd Degree Felony)
- 1 count Grand Theft (3rd Degree Felony)
“Florida’s securities statutes exist to protect investors from fraud,” said State Attorney Katherine Fernandez Rundle. “Good faith, good intentions and grand plans mean little when invested monies are transformed into credit card and mortgage payments.”