Adam C. Hochfelder: Difference between revisions
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'''Adam C. Hochfelder''' (born in 1971) is a real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. He bought out [[Peter S. Kalikow]] from his partnership because of a soured relationship in 2002. <ref>http://www.nytimes.com/2010/05/22/nyregion/22hochfelder.html</ref> He was convicted, through a guilty plea, on May 21, 2010 of 18 counts of larceny and defrauding investors. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months with a maximum of 8 years and ordered to pay restitution of $9.5 million.<ref>http://www.nytimes.com/2010/09/21/nyregion/21hochfelder.html?ref=nyregion </ref> He contends he has already paid back $15 million to some of his victims.<ref |
'''Adam C. Hochfelder''' (born in 1971) is a real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. He bought out [[Peter S. Kalikow]] from his partnership because of a soured relationship in 2002. <ref name="nytimes1">http://www.nytimes.com/2010/05/22/nyregion/22hochfelder.html</ref> He was convicted, through a guilty plea, on May 21, 2010 of 18 counts of larceny and defrauding investors. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months with a maximum of 8 years and ordered to pay restitution of $9.5 million.<ref>http://www.nytimes.com/2010/09/21/nyregion/21hochfelder.html?ref=nyregion </ref> He contends he has already paid back $15 million to some of his victims.<ref name="nytimes1"/> At its peak, Max Capital had ownership or management stakes in 8 million square feet of space, including the [[Helmsley Building]],<ref>http://www.nytimes.com/2010/09/21/nyregion/21hochfelder.html?ref=nyregion</ref> valued at as much as $2.7 billion.<ref name="nytimes1"/> He used a pyramid process to leverage his property purchases<ref>{{cite web|url=http://www.observer.com/node/48506 |title=Power Punk: Adam Hochfelder | The New York Observer |publisher=Observer.com |date=2003-12-14 |accessdate=2010-09-22}}</ref> from which he incurred excessive debt. His lawyer, Marc Agnifilo, argued that Adam Hochfelder had a cocaine addition which impaired his judgments, including his decision to buy out his partner, Kalikow. He went into rehabilitation in June of 2008 at [[St. Lukes-Roosevelt Hospital]] in New York City. He had several subsequent operations to repair damage to the septum of his nose.<ref name="nytimes2">http://www.nytimes.com/2010/03/01/nyregion/01hochfelder.html</ref><ref name="nytimes1"/> |
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==Personal Life== |
==Personal Life== |
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His father, James L. Hochfelder, was a former garment manufacturer (garmento) who had attended the [[University of Pennsylvania]] as had his grandfather. Adam was brought up on Long Island, in [[Old Westbury, NY]] and attended the [[University of Pennsylvania]]'s [[Wharton School of Business]] from which he graduated. He was married to Amy Meadow, with whom he had two sons. They were divorced in 2009. <ref |
His father, James L. Hochfelder, was a former garment manufacturer (garmento) who had attended the [[University of Pennsylvania]] as had his grandfather. Adam was brought up on Long Island, in [[Old Westbury, NY]] and attended the [[University of Pennsylvania]]'s [[Wharton School of Business]] from which he graduated. He was married to Amy Meadow, with whom he had two sons. They were divorced in 2009. <ref name="nytimes2"/> |
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==References== |
==References== |
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Revision as of 15:42, 22 September 2010
Adam C. Hochfelder (born in 1971) is a real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. He bought out Peter S. Kalikow from his partnership because of a soured relationship in 2002. [1] He was convicted, through a guilty plea, on May 21, 2010 of 18 counts of larceny and defrauding investors. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months with a maximum of 8 years and ordered to pay restitution of $9.5 million.[2] He contends he has already paid back $15 million to some of his victims.[1] At its peak, Max Capital had ownership or management stakes in 8 million square feet of space, including the Helmsley Building,[3] valued at as much as $2.7 billion.[1] He used a pyramid process to leverage his property purchases[4] from which he incurred excessive debt. His lawyer, Marc Agnifilo, argued that Adam Hochfelder had a cocaine addition which impaired his judgments, including his decision to buy out his partner, Kalikow. He went into rehabilitation in June of 2008 at St. Lukes-Roosevelt Hospital in New York City. He had several subsequent operations to repair damage to the septum of his nose.[5][1]
Personal Life
His father, James L. Hochfelder, was a former garment manufacturer (garmento) who had attended the University of Pennsylvania as had his grandfather. Adam was brought up on Long Island, in Old Westbury, NY and attended the University of Pennsylvania's Wharton School of Business from which he graduated. He was married to Amy Meadow, with whom he had two sons. They were divorced in 2009. [5]
References
- ^ a b c d http://www.nytimes.com/2010/05/22/nyregion/22hochfelder.html
- ^ http://www.nytimes.com/2010/09/21/nyregion/21hochfelder.html?ref=nyregion
- ^ http://www.nytimes.com/2010/09/21/nyregion/21hochfelder.html?ref=nyregion
- ^ "Power Punk: Adam Hochfelder | The New York Observer". Observer.com. 2003-12-14. Retrieved 2010-09-22.
- ^ a b http://www.nytimes.com/2010/03/01/nyregion/01hochfelder.html