SF man who stole $340K intended for low-income families facing 10 years
SAN FRANCISCO (KRON) — A San Francisco man has pleaded guilty to stealing over $340,000 in funds intended for low-income housing benefits. Gregory Finkelson, 64, admitted that between August 2006 and February 2020, he wrongfully claimed $341,455 in Section 8 Program subsidies, according to the U.S. Department of Justice.
The Section 8 Certificate Program is a rent subsidy program funded by HUD and administered jointly in SF by HUD and the San Francisco Housing Authority (SFHA). The program is for helping low- and moderate-income families afford housing.
It has income limits and other eligibility requirements applicants must meet.
In Finkelson’s case, the DOJ states that he lied about his income and ownership of a San Francisco residence be purchased in 2005 that is now valued at around $2.4 million. He also lied about a business he ran out of his residence.
He used the fraudulently obtained funds to pay his credit cards, fund his business, and make payments on a timeshare in Hawaii.
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“This defendant fraudulently obtained housing benefits designated for some of the neediest individuals in our society and used them to enrich himself,” said United States Attorney Ismail J. Ramsey. “I am proud of the work this Office does to prosecute those who defraud the government, particularly where, as here, it is low-income families who suffer the most as a result of the defendant’s selfish conduct.”
As part of his scheme, Finkelson used the name of a Russian national living in Russia to purchase his SF home. He falsely claimed that she was his landlord and he made rent payments to her. He also admitted he opened several bank accounts, including in the Russian national’s name.
He used these bank accounts, the DOJ said, to conceal his use of the fraudulently obtained Section 8 Program funds.
Finkelson pleaded guilty to one count of theft of government property. Pursuant to a plea agreement, he agreed to pay at least $341,455 in restitution. He faces a statutory maximum prison sentence of 10 years. The court may also order him to pay a fine of up to $250,000 and to serve a three-year supervised release term.
He faces sentencing on Sept. 9, 2024.
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