EntrePoker
Andrew Laub was arrested this week in the Goldens Bridge area of New York and charged with wire fraud totaling $5,758,630, according to documents filed in the US District Court for the Southern District of New York.
Prosecutors allege Laub raised money from investors by promising returns on properties he would buy, renovate and resell in New York. The filings say he presented himself as an experienced developer who had worked for a real estate firm managing more than $750 million in assets. His LinkedIn profile lists him as CEO and co-founder of the private equity fund Keneh Ventures since January 2017.
A review of his bank records indicates the money went to personal expenses, gambling and Ponzi-type payments to other victims. One victim handed over about $250,000 in 2020 after he promised 45% interest. Laub paid at first, and the victim and family lent more. When payments stopped, the victim recorded a call in which, per the filings, Laub admitted he had not invested in real estate and had created fake emails.
A second victim put in $180,000 in mid-2025 for a Bronx property, and a third, a childhood acquaintance, wired $325,000 for a promised 50% return. Investigators found Laub held no ownership interest in either property.
The documents do not say how much was gambled or where. If convicted, Laub faces up to 20 years in prison.
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