Elber Deri

Elber Deri Indicted With 20 Felony Charges, Per Manhattan DA

Manhattan District Attorney Alvin Bragg has indicted Elber Deri on the following 20 felony charges:

• Scheme to Defraud in the First Degree (Class E Felony) - 11 Counts
• Offering a False Instrument for Filing in the First Degree (Class E Felony) - 2 Counts
• Tampering with Physical Evidence (Class E Felony)
• Criminal Facilitation in the Second Degree (Class A Misdemeanor) - 6 Counts

The indictment alleges that between January 2019 and June 2020, Deri orchestrated a scheme to sell shares of New York City taxi medallions, which are permits issued by the New York City Taxi and Limousine Commission (TLC) that allow individuals to own and operate a yellow taxi cab in New York City

The indictment further alleges that Deri and his co-conspirators misled investors about the financial condition of the taxi medallion industry, the value of the medallions, and the risks associated with investing in medallions

The indictment charges that Deri and his co-conspirators made false and misleading statements to investors about the potential return on investment in taxi medallions, and failed to disclose material information about the financial risks associated with investing in medallions.

The indictment further alleges that Deri and his co-conspirators forged documents and altered financial records in order to conceal the true financial condition of the medallion industry.

The indictment is the result of a joint investigation by the Manhattan District Attorney's Office and the New York City Taxi and Limousine Commission (TLC).

Deri was arrested on June 23, 2023, and was released on bail.

He is scheduled to be arraigned on the indictment on July 14, 2023.