Man Admits Duping NYC Marathon Group in Building Deal
Runners cross the Verrazano Bridge at the start of the ING New York City Marathon in New York.
Updated at 9:45 AM EST on Saturday, Apr 10, 2010
A Harlem real estate hustler has admitted trying to sell a prime property he didn't own to the group that oversees the New York City Marathon.
The Manhattan District Attorney's office says Henry Vargas pleaded guilty Friday to attempted grand larceny and forgery. His plea deal calls for a prison term of five to 10 years.
Prosecutors say the 36-year-old Vargas admitted forging documents showing he was the majority owner of a commercial building near Central Park. He then agreed to sell the property to New York Road Runners for $8.5 million. The group was planning to build a running center.
Prosecutors have said the organization spent $300,000 in fees before the deal fell apart.
His lawyer's name wasn't immediately available Friday night.
Copyright Associated Press / NBC New York