Elie Schwartz, the CEO of Nightingale Properties, has pleaded guilty to wire fraud in a scheme that defrauded over 800 investors of approximately $62.8 million through the crowdfunding platform CrowdStreet. The fraud involved soliciting investments for commercial real estate projects, including $54 million for the Atlanta Financial Center and $8.8 million for the Lincoln Place in Miami Beach, which were never completed. Schwartz misused the funds for personal luxury purchases, including a $120,000 watch, and investments in stocks and options, notably spending $12 million on First Republic Bank stocks before its failure. He faces a maximum sentence of 20 years in prison, with sentencing scheduled for May 19.