A short-term rental operator who called himself the “wolf of Airbnb” was sentenced to 51 months for defrauding landlords of more than $1 million in rent, according to a release.
Damian Williams, U.S. attorney for the Southern District of New York, said Konrad Bicher, 32, of Hialeah, Fla., was sentenced for fraudulent operation of real estate businesses, including by entering into lease agreements for residential apartment units in Manhattan on false and fraudulent pretenses and by making false statements to obtain loans guaranteed by the U.S. government.
“For years, Bicher schemed to defraud New York City landlords and the U.S. government. Bicher enriched himself by abusing government programs and tenant protections intended to benefit people and businesses in need during one of the worst economic and public health crises in history.
“He bragged about his schemes to his friends and the media, proudly referring to himself as the ‘Wolf of Airbnb,’ but the sentence underscores, those who partake in such callous and fraudulent conduct will answer for their crimes, no matter their self-given title,” Williams said in the release.
From 2019 to 2022 Bicher and his associates rented apartments in Manhattan but failed to make more than $1,000,000 in rent payments to landlords pursuant to the lease agreements, based on the estimated fair market value for the rental units. Despite leases prohibiting the units being used for short-term lease, Bicher and his associates listed them for short-term rent on Airbnb and at least one other online marketplace for short-term rentals, resulting in at least $1,170,000 in rental income to Bicher and his associates, according to the release.
During the COVID-19 pandemic Bicher submitted at least four applications for PPP loans on behalf of at least three entities and obtained over $565,000 in loan proceeds. These PPP applications contained fraudulent documents and false information.
In addition to the prison term, Bicher was sentenced to three years of supervised release. He was additionally ordered to forfeit $1,740,407.12 and pay restitution in the amount of $2,227,371.58.
See the full release here from the U.S. Attorney
