A Chicago real estate broker was sentenced to four years and two months in federal prison for defrauding four investors out of more than $3 million.
Stanislav Sannikov, also known as Steve Sannikov, owned and operated Chestnut Realty Group. According to the charges against him, Sannikov fraudulently claimed to investors that certain properties were for sale and that he could negotiate the purchase on their behalf, adding the properties could be re-sold or leased for a substantial profit. However, were not available for sale or lease.
From 2016 to 2020, Sannikov lured investors to deposit funds into what he claimed was an escrow account maintained by Chestnut Realty. But Sannikov’s company was not licensed to act as an escrow agent and that the account was a checking account controlled by Sannikov. Once he secured the funds, Sannikov spent the money on his own lavish lifestyle. One victim, who is now in his seventies, had to put off retirement so that he could pay off his losses.
Sannikov pleaded guilty last year to a federal wire fraud charge. In addition to his prison sentence, Sannikov must pay $2.19 million in remaining restitution to four victims.
“This was not a one-time lapse in judgment,” said Assistant US Attorney Sheri H. Mecklenburg in the government’s sentencing memorandum. “Defendant, over the course of at least four years, designed and engaged in a calculated, sustained, multi-faceted scheme to defraud multiple individuals.”
I am Vladimir Melamed, from whom this garbage Steve Sannikov stole more th3n 3 million dollars.
I will go after all his family to get stolen money.
His brother, Daniel Sannikov. who is also in real estate business, writes that he is proud to learn from his brother who to operate “profitable ” business.
All these people are crooks