A Long Island man was charged with grand larceny and scheme to defraud in a series of real estate investment scams that siphoned $100,000 from multiple victims.
According to combined media reports, Arnulfo Castillo – who is also known as Alexander Castilllo Carias Arnulfo – offered to sell a property in Uniondale, New York, to a developer in August 2024. The developer remitted $40,000 to the defendant’s business, Castillo Acquisitions LLC, and entered into a residential contract of sale with a closing date for on or before Nov. 4, 2024. But after the closing date passed, the victim found Castillo refusing to close the transaction and refund the remittance. It was later revealed Castillo did not own the property in question.
Also in August 2024, another victim had a similar incident with Castillo involving a property in Mineola, New York. In that case, Castillo promised the victim would receive $3,000 per month for six months, followed by the full return of his $60,000 capital investment. The victim never received any funds and found Castillo did not own the property in the transaction.
Castillo was arrested yesterday and charged with Grand Larceny in the Second Degree (a Class C felony); Grand Larceny in the Third Degree (a Class D felony); and two counts of Scheme to Defraud in the First Degree (a Class E felony). He pleaded not guilty and was released to pretrial services. He is due back in court on July 15 and faces up to five to 15 years in prison if convicted.
0 Comments