Manhattan District Attorney Alvin L. Bragg Jr. today announced the sentencing of IAN MITCHELL, 37, for stealing approximately $700,000 from friends and associates by impersonating a prominent investment banker between October 2017 and November 2018. MITCHELL was sentenced to 3-9 years in state prison. On February 13, 2025, MITCHELL pleaded guilty in New York State Supreme Court to two counts of Grand Larceny in the Second Degree and one count of Bail Jumping in the Second Degree.
“Ian Mitchell defrauded his friends and associates out of approximately $700,000 by claiming to be from a wealthy, prominent family,” said District Attorney Bragg. “Those who impersonate others to steal hard-earned money will be prosecuted. If you are a victim of financial crime, or know about a financial crime that requires investigation, please call our Financial Frauds Bureau at 212-335-8900.”
According to court documents and statements made on the record, and as admitted in the defendant’s guilty plea, between October 2017 and November 2018, MITCHELL purported to be Ian Matalon, a scion of the prominent Matalon family of Jamaica and an independently wealthy manager of his family’s hedge fund, to steal money from friends and associates.
MITCHELL told his friends and associates that because of his family’s wealth and his success as an investor, he had unique access to investment opportunities.
Using this ruse, MITCHELL convinced an investor to invest more than $200,000 by stating that he had unique access to purchase real-estate and Cannabis ventures through his family’s connections in Jamaica. MITCHELL used a similar story to steal approximately $300,000 from a second investor, telling him that he was a part of a small class of individuals with access to the pre-initial public offering for WeWork and Dropbox.
MITCHELL again used the Ian Matalon persona to tell a third investor that he had unique access to the pre-initial public offering for WeWork and following MITCHELL’s instructions, the investor sought out and obtained more than $200,000 from several other victims. MITCHELL used these funds for personal expenses.
On January 31, 2020, MITCHELL failed to attend a scheduled court appearance and was subsequently indicted for Bail Jumping. He remained a fugitive until March 2023, when he was arrested on charges filed by the U.S. Attorney’s Office for the Southern District of New York; he was sentenced on July 11, 2024, after pleading guilty in that case.
Assistant D.A. Jonathan Borle (Financial Frauds Bureau) handled the prosecution of this case under the supervision of Assistant D.A.s Kelly Thomas (Deputy Chief of the Financial Frauds Bureau), Hope Korenstein (Deputy Chief of the Financial Frauds Bureau), Kofi Sansculotte (Chief of the Financial Frauds Bureau), and Executive Assistant D.A. Jodie Kane (Chief of the Investigation Division). Financial Frauds Investigative Analyst Jade Yang provided valuable assistance in this case.
Defendant Information
IAN MITCHELL
New York, NY
Convicted:
- Grand Larceny in the First Degree, a class C felony, two counts
- Bail Jumping in the Second Degree, a class E felony, one count
Sentenced:
- 3-9 years in state prison
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