Norman Adie Explained

Norman Adie
Birth Date:25 November 1946
Nationality:American
Occupation:Theater owner

Norman Allen Adie (born November 25, 1946) is a former theater owner/operator/developer and confessed Ponzi schemer,[1] presently inmate number 64354-054 in the Federal Detention Center (FDC) in Miami, Florida.[2] Born in Scotland, Adie began his career in London with the Rank Organization and Twentieth Century Fox[3] before moving to the United States to work at Radio City Music Hall.

Career

Adie founded Screen Arts Corporation and developed his own New York theaters in Times Square and Park Slope, Brooklyn.[4] Adie's decade-long efforts to open a theater in Monroe, New York were delayed by protracted, well-publicized lawsuits and counter-lawsuits resulting from a troubled partnership with One Liberty Properties.[5] "Monroe 6 Cinemas" eventually opened in 2008 but went into receivership three years later after Adie failed to pay the mortgage and property taxes.[6] Adie operated the Brooklyn Heights Cinema[7] in Brooklyn, New York, for ten years before selling it to Kenn Lowy in 2011 after misappropriating the theater's finances.[8] Adie opened the Foxmoor 7 Cinemas in Marshalls Creek, Pennsylvania in 2006 only to be evicted in 2009 for failing to pay rent.[9] Adie's plans to open a movie multiplex in Matamoras, Pennsylvania in 2008 never came to fruition and resulted in a $12.7 million judgment against Adie in 2009.[10]

Arrest

On November 23, 2010, Adie was arrested and charged with Federal securities and wire fraud.[11] [12] He confessed to the charges and was sentenced in May, 2012 to 20 months in Federal prison.[13]

References

  1. http://www.brooklynpaper.com/stories/34/50/dtg_heightscinemaponzi_2011_12_16_bk.html Moviehouse Madoff! Former Heights Cinema owner pleads guilty to Ponzi scheme
  2. http://www.bop.gov/iloc2/LocateInmate.jsp Inmate Locator
  3. http://www.recordonline.com/apps/pbcs.dll/article?AID=/20080509/BIZ/805090368 Monroe Cinema Debuts Today
  4. http://articles.nydailynews.com/1995-11-14/local/17976594_1_film-industry-player-angelika-film-center-split-personality Theater's Opening Act Nears
  5. http://www.recordonline.com/apps/pbcs.dll/article?AID=/20060318/NEWS/303189997 Building plans still stalled
  6. http://www.recordonline.com/apps/pbcs.dll/article?AID=/20110714/BIZ/107140333 Court seizes Monroe 6 profits
  7. http://www.brooklynpaper.com/stories/31/4/31_04littletheatertoexp.html Little Theater to Expand
  8. http://www.crainsnewyork.com/article/20110603/REAL_ESTATE/110609943 Tainted Brooklyn Heights Cinema sold
  9. http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20091211/NEWS/912110360 Foxmoor 7 Theater Evicted After Failing to Pay Rent
  10. http://www.strausnews.com/articles/2010/01/09/pike_county_courier/news/1.txt Movie Magic Gone Bad
  11. https://www.nytimes.com/2010/11/24/nyregion/24arrest.html Theater Owner Is Charged With Fraud
  12. http://www.brooklynpaper.com/stories/33/48/bh_heightscinema_2010_11_26_bk.html Feds: Heights Cinema owner was Ponzi schemer
  13. http://pikecountycourier.com/article/20120719/NEWS01/120719937/Theater-owner-sentenced-to-20-months Theater owner sentenced to 20 months