The party’s over.
An investment fraudster who falsely claimed to sit on an esteemed advisory board with former Dallas Cowboys quarterback Roger Staubach and singer Gloria Estefan was ordered to pay $2 million in restitution Monday in Brooklyn federal court.
Khurram Tanwir and a partner bilked vulnerable marks out of millions of dollars and spent their dirty money like kings — gorging on expensive meals at Mr. Chow’s and Philippe’s and splurging on expensive concert and sporting tickets, according to court papers.
The swindlers told investors that they were disbursing their money into a string of attractive sounding ventures including a boxing equipment company, a credit card business, and a real estate firm — but lined their bulging pockets instead.
The crooks, who told their victims that they hobnobbed with members of the Red Hot Chili Peppers and singer Seal, raised more than $6 million from more than 170 people, according to court papers.
But more than $3 million of that went to finance their own extravagant lifestyle — which included stays at the UN Millennium hotel and spending sprees at Kiehl’s cosmetics and tanning salons.
Along with co-conspirator Adam Labiner and Ahmed Awan, Tanwir set up the elaborate scheme that managed to convince his investors that they were offering guaranteed rates of return through their various businesses.
They even targeted the retirement funds of elderly investors through cold calls and lies.
The three men were all licensed securities dealers while they carried out the scheme but have since been stripped of their licenses.
Tanwir got off with probation Monday but was ordered to pay back those he ripped off.