Brooklyn Cinema Owner Charged With Investor Fraud

Law360, New York (November 24, 2010, 2:29 PM EST) -- The owner of a small movie theater in Brooklyn, N.Y., has been arrested and charged with misappropriating hundreds of thousands of dollars of investor funds.


Manhattan resident Norman Adie, 53 — who owns and operates the two-screen Brooklyn Heights Cinema — is facing two counts of securities fraud and two counts of wire fraud, according to a complaint unsealed Tuesday in the U.S. District Court for the Southern District of New York.


Prosecutors say that Adie solicited more than $530,000 from various investors and...
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