Manhattan District Attorney Robert Morgenthau, pictured above, said 37-year-old Adam Hochfelder stole more than $17 million from banks, investors and even family and friends as the head of Max Capital Corporation.

Prosecutors say over a six-year period, Hochfelder falsified records and forged his business partner’s signature in order to acquire the loans.

"He was very successful at convincing people that he was a successful entrepreneur,” said Morgenthau. “The fact that two banks would give him $5 million each in personal loans is an indication that he was very persuasive."

Investigators say Hochfelder also put his Park Avenue apartment up as collateral but never told the bank he already had several liens on it.

Hochfelder faces a slew of charges including grand larceny and forgery, and could get up to 25 years in prison if convicted on the most serious charges.