"Wolf Of Airbnb" Sentenced To 51 Months In Prison
The self-proclaimed "Wolf of Airbnb" was sentenced by Judge Lorna G. of the Southern District of New York to 51 months in prison for defrauding New York City landlords and ripping off the federal government during the PPP loan mania in early Covid.
Between July 2019 and about April 2022, Konrad Bicher leased 18 apartments across Manhattan and failed to make payments as required by the lease agreements. In many cases, the 32-year-old refused to vacate after the lease agreements expired. During this period, he turned the units into short-term rentals on various online platforms, including Airbnb, without the consent of landlords.
The feds have previously said Bicher ran the units like "mini-hotels," listing them on Airbnb.
By avoiding his bills, he managed to live a lavish lifestyle...
“Wolf Of Airbnb” Konrad Bicher Pleads Guilty In Connection With PPP And Real Estate Fraud Scheme
— GuruLeaks (@Guruleaks1) June 26, 2023
Bicher failed to make $1M in lease payments on @Airbnb properties.
Also fraudulently applied for and received $565,000 in PPP fundshttps://t.co/EbbbELPLjJ#GuruDown pic.twitter.com/ssixlfnMe5
"Between in or about July 2019, and in or about April 2022, Bicher and his associates failed to make more than $1,000,000 in payments pursuant to the Lease Agreements or, for the period of time after the expiration of the Lease Agreements, based on the estimated fair market value for the Units," prosecutors said.
They said, "During this period, Bicher caused the Units to be listed for short-term rent on Airbnb and at least one other online marketplace for short-term rentals, resulting in at least $1,170,000 in rental income to Bicher and his associates."
Prosecutors highlighted that Bicher called himself the "Wolf of Airbnb" and told various media outlets that his nickname stemmed from being "hungry and ruthless enough to get on top of the financial ladder" and had the "ferocity…of a wolf, because wolves are territorial, vicious, and show no mercy when provoked."
But it gets better. Bicher also obtained $565,000 in government-guaranteed PPP loans through fraudulent documents and false information, according to the prosecutors.