A Columbia man pleaded guilty yesterday in federal court to conspiring to skim money from seven HUD-subsidized low-income apartment complexes that he once managed.
The guilty plea of Monte D. Greenbaum, 49, who managed the properties as head of Catonsville-based Maryland Property Associates Inc., came 2 1/2 weeks after prosecutors charged him with skimming $840,000 between 1993 and 1998 from the accounts of 1,700 units he managed in Baltimore, Baltimore County, Cumberland and Hagerstown.
U.S. District Judge Marvin J. Garbis in Baltimore delayed setting a sentencing date for Greenbaum to give him time to fulfill terms of his plea agreement by cooperating with prosecutors.
The maximum sentence under the law is a five-year prison term and a $500,000 fine.
Assistant U.S. Attorney Virginia B. Evans said Greenbaum used security deposits and U.S. Department of Housing and Urban Development money earmarked for building repairs to make alimony payments to his ex-wife and to put in his personal investment account.
Martin H. Schreiber, Greenbaum's attorney, said his client would challenge the government's calculation of the amount of money taken.
Pub Date: 3/19/99