Former North Miami Beach Mayor Myron Rosner was charged with securities fraud for allegedly misappropriating $150,000 in investor funds, the Miami-Dade State Attorney’s Office announced Tuesday.
Rosner was charged with four felonies after the office investigated Dr. David Rosenbaum’s investment in a limited partnership that had a goal of developing 2.2 acres of vacant land in North Miami, according to the state attorney’s office.
Rosner allegedly used Rosenbaum’s $150,000 investment for his construction company and for personal expenses, such as his mortgage with his wife, Miami-Dade Circuit Judge Sarah Zabel.
“The current charge is utterly outrageous and represents an illegitimate effort by the state attorney to help an investor secure a disputed civil obligation,” said Rosner’s defense attorney, Benedict Kuehne. “Mr. Rosner is litigating the investor in civil court and is outraged that the state attorney is attempting to collect a disputed debt on the investor’s behalf.”
Kuehne, of the Law Offices of Benedict P. Kuehne in Miami, said Rosner “intends to vigorously challenge the arrest and obtain ultimate victory, including damages against the investor.” Rosner’s lawyer in the civil case, Mark Pomeranz of Pomeranz & Associates in Hallandale, did not immediately respond to a request for comment.
Zabel, who is not charged with a crime, was listed as the general partner in the limited partnership, according to the state attorney’s office. Her attorneys, David O. Markus and Margot Moss of Markus/Moss in Miami, said in a statement that Zabel “stands by her husband against this baseless and very old civil dispute, which never should have been brought criminally.”
The Bureau of Financial Investigation worked with the state attorney’s office on the investigation.
“Florida’s securities statutes exist to protect investors from fraud,” State Attorney Katherine Fernandez Rundle said in a statement. “Good faith, good intentions and grand plans mean little when invested monies are transformed into credit card and mortgage payments.”
This is not the first time Rosner has been charged with a crime. He pleaded guilty in 2016 to unlawful compensation for a campaign finance violation related to bus bench ads. Rosner was sentenced to three years’ probation and a temporary ban on holding public office.