Ulster County's own Bernie Madoff?

A Hurley man, 48-year-old John C. Benkert, has been arrested on charges of grand larceny and forgery after a five-month investigation into his business dealings.

State police say he stole over $360,000 from victims by convincing them to loan him money for nonexistent business dealings. A state police investigator is searching for victims that may have been caught up in the scheme.

New York State troopers announced the arrest on April 3:

On April 2, 2012 the New York State Police in Kingston, NY arrested John C. Benkert, age 48 of 139 Jeffrey Lane in the Town of Hurley for felony Grand Larceny 2nd, felony Grand Larceny 3rd and the misdemeanors of Criminal Possession of a Forged Instrument 3rd and Forgery in the 3rd Degree.  Benkert’s arrest stems from a five month investigation by the State Police into complaints that Benkert was stealing money from people by getting them to loan him money based on business dealings that did not in fact exist.  It is also alleged that Benkert used forged documents to further defraud his victims.  As of this time Benkert is accused of stealing over $360,000 from several victims.  The State Police are requesting that anyone who may have been a victim of this ruse by Benkert to contact Investigator Joseph Auriemma at the State Police in Kingston at (845) 338-1702.  Benkert was arraigned in the Town of Rosendale Court and was released on $5000 cash bail.