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A Florida man who calls himself the "Wolf of Airbnb" will serve 4 years in prison after admitting that he deceived New York landlords by illegally renting out apartments for short-term rent.
Conrad Beecher, 32, was sentenced after pleading guilty last year to one count of fraud involving electronic communications. He could have faced up to 20 years in prison if convicted at trial, but federal prosecutors agreed to a lesser sentence as part of his plea agreement. According to them, Beecher took the nickname in honor of the "Wolf of Wall Street" Jordan Belfort, because he was "someone who was greedy and ruthless enough to climb to the top of the financial ladder."
Prosecutors said Beecher had rented out more than a dozen Manhattan apartments that the city had forbidden short-term rentals to third parties or that could not be sublet without the owner's consent. They say he failed to pay rent by listing properties on exchanges, including Airbnb. According to US data, he and his accomplices received at least $ 1,170,000 in property revenue, withholding more than $ 1 million in rent between July 2019 and April 2022. Beecher was also accused of receiving more than half a million dollars in loans guaranteed by the government through the Small Business Administration program, designed to help companies affected by the pandemic. In total, he will lose more than $ 1.74 million and pay more than $ 2.22 million in damages.
Conrad Beecher, 32, was sentenced after pleading guilty last year to one count of fraud involving electronic communications. He could have faced up to 20 years in prison if convicted at trial, but federal prosecutors agreed to a lesser sentence as part of his plea agreement. According to them, Beecher took the nickname in honor of the "Wolf of Wall Street" Jordan Belfort, because he was "someone who was greedy and ruthless enough to climb to the top of the financial ladder."
Prosecutors said Beecher had rented out more than a dozen Manhattan apartments that the city had forbidden short-term rentals to third parties or that could not be sublet without the owner's consent. They say he failed to pay rent by listing properties on exchanges, including Airbnb. According to US data, he and his accomplices received at least $ 1,170,000 in property revenue, withholding more than $ 1 million in rent between July 2019 and April 2022. Beecher was also accused of receiving more than half a million dollars in loans guaranteed by the government through the Small Business Administration program, designed to help companies affected by the pandemic. In total, he will lose more than $ 1.74 million and pay more than $ 2.22 million in damages.
