NEW YORK – New York Attorney General Letitia James and Congressman Adriano Espaillat today issued a consumer alert warning New Yorkers about real estate scams targeting at the Dominican community after prosecutors in the Dominican Republic charged a businessman with scamming nearly 150 individuals in the Dominican Republic and United States – including approximately 24 New Yorkers – with fraudulent real estate listings. Emmanuel Rivera Ledesma was arrested recently for perpetrating a scheme through his company, InDisArq, that cheated each of his victims out of thousands of dollars. Rivera Ledesma targeted Dominicans living in the U.S. with advertisements for properties that either did not exist or were sold to multiple buyers and collected millions of dollars in deposits.

The Office of the Attorney General (OAG) and Congressman Espaillat have received numerous complaints from New Yorkers and out-of-state victims about this scam in recent months. Individuals who believe they may have been a victim of Ledesma’s scheme can submit complaints to OAG, which will be forwarded to prosecuting authorities in the Dominican Republic.

“New Yorkers should always be suspicious of speculative real estate deals where they are asked to buy property sight unseen,” said Attorney General James. “Purchasing real estate abroad can be complicated and expensive, and individuals should take precautions to ensure they are working with legitimate brokers. I thank Congressman Espaillat for notifying my office of this issue and am proud to work with him to ensure the victims of this scam get justice. I encourage anyone who may be a victim of a real estate scam or fraud to report it to my office.”

“As public servants, we work tirelessly to ensure residents do not fall victim to scams and other fraudulent practices, and our offices took actions once Rivera Ledesma’s improper actions through his company, InDisArq, were brought to our attention,” said Congressman Espaillat. “I commend Attorney General James for her continuous efforts to hold perpetrators and bad actors accountable. Scammers are targeting communities daily, especially minorities and seniors, and we encourage anyone who suspects they have been a scam victim to contact our offices immediately.”

“It deeply alarms me to learn about schemes aimed at exploiting the hard-earned money of working-class individuals, particularly in a city economy where many struggle to make ends meet,” said Assemblymember Manny De Los Santos. “This reprehensible behavior only exacerbates the financial challenges faced by our community. We must vehemently oppose such exploitation and redouble our efforts to safeguard the financial security of those who are most vulnerable. I thank Attorney General James and Congressman Espaillat for their tireless efforts in alerting New Yorkers and identifying further victims of this deceitful scheme. Their dedication to protecting our community from such unscrupulous practices is commendable and underscores the importance of collaborative action in safeguarding the well-being of our constituents.”

“We understand generational reinvestment in immigrant home countries is a standard across our communities, especially the Dominican community,” said City Councilmember Carmen De La Rosa. “We are incredibly disheartened by the predatory scams that have targeted those seeking to invest and focus on upward mobility. We urge Dominicans to stay vigilant and proceed with caution when addressing real estate negotiations and not be afraid to report predatory behavior to the Office of the Attorney General.”

Dominican prosecutors allege that Rivera Ledesma operated a scheme in which he advertised real estate investments in Santo Domingo primarily to Dominicans living in America. Rivera Ledesma collected millions of dollars in deposits for properties that he either did not have the rights to build or were simultaneously sold to multiple buyers. When he failed to deliver, Rivera Ledesma attempted to intimidate his customers into staying silent.

Attorney General James and Congressman Espaillat recommend consumers take the following precautions before investing in real estate to avoid potential scams: