Metro

In-laws busted in $100M realty ‘Ponzi’

Two brothers-in-law were busted yesterday for allegedly bilking dozens of investors in a nearly $100 million Ponzi scheme — so they could buy swanky homes, luxury cars and a high-end beachfront enclave in Montauk, LI.

Starting in 2006, money manager Brian Callahan, 43, allegedly raised at least $118 million through four offshore funds he ran out an office in Old Westbury.

But after promising to invest the cash in mutual funds, hedge funds, CDs, stocks and bonds, Callahan instead plowed millions into the 10-acre Panoramic View Resort and Residences, which he bought with his wife’s brother, developer Adam Manson, 41, according to the feds.

The property — home of the historic Panoramic View hotel — is next to famed Gurney’s Inn and counts actor Robert De Niro among its neighbors.

Callahan and Manson had hoped to make a mint selling the site’s 117 units as co-ops.

But Brooklyn US Attorney Loretta Lynch said the venture proved unprofitable and Callahan “simply stole the funds to prop up his partner’s failing investment.”

Callahan and Manson were released on bond after pleading not guilty at the Central Islip federal courthouse.