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Tag:
Mortgage Fraud
Baltimore
Politics
Marilyn Mosby Guilty Of Mortgage Fraud, Acquitted Of Other In Baltimore, Feds Say
Embattled former Baltimore City State's Attorney Marilyn Mosby has been convicted of making a false mortgage application while she was in office in connection to the purchase of a condo in Florida - though she was acquitted of other offenses. The 44-year-old politician is facing prison time following a lengthy, well-documented trial that led to her conviction, which was announced by a jury on Tuesday afternoon following hours of deliberation. Prosecutors said that evidence presented at trial showed that in February 2021, Mosby made a false statement in an application for a $428,4…
Hudson
Police & Fire
Democratic Senator Bob Menendez Indicted On Federal Bribery Charges
Democratic U.S. Sen. Robert Menendez of New Jersey was indicted Friday on federal corruption charges that include allegations of him secretly supporting the government of Egypt and trying to influence U.S. prosecutors' case against Bergen County real estate magnate Fred Daibes. Mendendez, 69, who's chairman of the Senate Foreign Relations Committee, made several moves in exchange for bribes, some of which were passed to his wife, Nadine Arsianian, a sweeping indictment unsealed on Sept. 22 alleges. A staggering array of charges were brought by the grand jurors in the Southern District of N…
New Rochelle
News
$2M Scheme: 6 Steal Property Deeds, Obtain Fraudulent Loans In New Rochelle, Yonkers, DA Says
Six people, including a licensed real estate broker and salesperson, and a corporation, have been charged with defrauding homeowners in Westchester and fraudulently obtaining $2 million in loans by stealing property deeds, DA officials said. The six defendants involved in the scheme, including three Westchester residents and a Long Island man, were arrested and arraigned in late June for their role in a scheme that allegedly defrauded homeowners in Yonkers and New Rochelle, the Westchester County District Attorney's Office announced on Monday, July 3. According to officials, the…
Hudson
Police & Fire
Ex-Hudson Sheriff's Officer Admits $98,000 Short-Sale Mortgage Scheme For Jersey Shore Home
A former Hudson County sheriff’s officer admitted defrauding a bank to duck $98,000 in mortgage payments on a Jersey Shore home, federal authorities said. Osbado Hernandez, 54, of Avenel, conspired with others to lie about a bogus short sale of his house in Keansburg so that the unidentified bank would discharge what was left on his mortgage, U.S. Attorney Philip R. Sellinger said. Hernandez bought the property for $239,900 in 2006, financing it through a mortgage loan from the victimized bank, a complaint on file in U.S. District Court in Trenton says. He ended up behind on the payments,…
Hackensack
Police & Fire
Accused Mortgage Fraud Schemer From Bergen Already Had A History, Records Show
Gerrmaioud Chape was no stranger to police and prosecutors in Bergen County. So it wasn’t surprising to some when county prosecutors charged him with stealing $525,000 from unwitting investors through mortgage fraud. Chape, 43, already had a petty criminal history that included arrests for speeding, shoplifting and drugs when Bogota police charged him in 2015 with pocketing $40,000 that a Colombian brother and sister saved to come to America. The money was supposed to be a down payment on a mortgage for the siblings’ new home, authorities said at the time, but Chape used it instead on pers…
Somerset
News
Mortgage Fraud: NJ Developer, Attorney Admit Swindling Lenders Out Of $3.5M
A New Jersey real estate developer and a lawyer admitted running a multi-layered mortgage fraud that cost banks more than $3.5 million in losses, federal authorities said. Developer Victor Santos, 63, of Watchung, paid stand-in "straw" buyers $5,000 each to first purchase a dozen properties in Newark and then secure tenants to lease them, U.S. Attorney Philip R. Sellinger said. A group of conspirators including him and attorney Fausto Simoes, 69, of Millington, covered the costs -- including fees and mortgage payments, the U.S. attorney said. "Santos, Simoes, and others also caused the sub…
Baltimore
News
Federal Judge Schedules Hearing After Marilyn Mosby Files To Move Perjury Case Out Of Baltimore
A federal judge has reportedly scheduled a hearing in December to hear arguments on State's Attorney Marilyn Mosby's motion to move her perjury and mortgage fraud trial out of Baltimore, reports CBS News. The hearing has been scheduled for Thursday, Dec. 15 after Mosby's team filed a motion to move her trial out of Baltimore last week. Mosby is accused of committing perjury to illegally obtain a withdrawal from her retirement account. The government argues that Mosby lied about adversely being impacted by COVID-19 in order to take out money without penalty while she continued to work on a sa…
Baltimore
News
Man Admits To Conspiring With Maryland Brother To Obtain Federal Housing Loan
The brother of a Baltimore business owner has admitted to falsely claiming his brother's bank balance and activity to obtain a federal housing administration loan, officials say. Calvin Abramowitz, 48, of Lakewood, New Jersey, has been ordered to pay $209,036 after pleading guilty to bank fraud, according to the Department of Justice. Abramowitz and his brother, Philip Abramowitz, age 40, of Pikesville, Maryland, conspired to defraud at least one financial institution to obtain Federal Housing Administration loans and property under false pretenses, officials said. Philip Abramow…
Baltimore
News
Feds Charge Baltimore Prosecutor With Lying On COVID Withdrawal, Mortgage Documents
A federal grand jury has charged Baltimore's top prosecutor with faking financial hardship on mortgage loan statements for two vacation homes and to make a COVID-related withdrawal from her retirement savings. Baltimore City State's Attorney Marilyn Mosby submitted paperwork for one-time withdrawals of $40,000 and $50,000, respectively, from the City of Baltimore’s Deferred Compensation Plans in May and December 2020, an indictment on file in U.S. District Court alleges. Mosby, 41, of Baltimore, falsely certified -- under penalty of perjury -- that she met at least one of the qual…
Essex NJ
Police & Fire
Feds: International Fugitive Admits Role In $30 Million NJ Mortgage Fraud
A New Jersey mortgage company loan officer who’d been an international fugitive for several years admitted his role in a long-running, large-scale scam that cost lenders more than $30 million, authorities said. Isaac DePaula, 41, and a group of conspirators pulled off the scheme through a company called Premier Mortgage Services (PMS), according to a complaint on file in U.S. District Court in Newark. The thieves targeted low-income areas, recruiting straw buyers to seek mortgages for properties they really couldn’t afford, federal authorities charged. The conspirators secured the loans by…
Ridgefield Park-Hasbrouck Heights
News
Ridgefield Park Man Gets 15 Months In Fed Pen For Major Mortgage Fraud
A Ridgefield Park man was sentenced Friday to 15 months in federal prison for his role in a scheme to defraud mortgage lenders out of hundreds of thousands of dollars. Dennys A. Tapia, 55, took a deal from the government rather than go to trial, pleading guilty to a single count of conspiring to commit bank fraud last December. He'll have to serve out the entire sentence because there's no parole in the federal prison system. Tapia and a number of unnamed co-conspirators produced bogus documents to a loan officer for potential borrowers, including fraudulent lease agreements, bank statement…
Nassau
News
Long Island Man Admits To $4.7M Mortgage-Fraud Scheme
An unlicensed mortgage broker on Long Island has admitted to his role in a multi-million dollar Ponzi-like scheme to defraud his clients, federal officials announced. Commack resident Brent Kaufman, age 50, pleaded guilty to stealing $4.7 million in mortgage refinancing proceeds that were meant to pay off the existing mortgages of his clients. Acting US Attorney Jacquelyn Kasulis said Kaufman worked as an unlicensed mortgage broker and assisted clients in Queens and Long Island with refinancing their mortgages. At the closing for a mortgage refinancing, the money from the new mortgage is …
Nassau
News
Nassau County Man Accused Of Defrauding Owners Of Two Brownstones
A Long Island man is facing charges for allegedly scheming to steal a pair of brownstones, New York Attorney General Letitia James announced. Nassau County resident Joseph Makhani, age 58, of Kings Point, was arrested this week for alleged deed theft and mortgage fraud after defrauding the owners of the brownstones by using forged and falsified real estate documents. According to James, Makhani targeted the two Harlem brownstones using forged and falsified documents, numerous LLCs under his control, multiple property transfers, an unethical attorney, and abused court processe…
Suffolk NY
News
Long Island Man Sentenced In ‘Shotgun’ Mortgage Scheme That Cost Banks $9 Million
A Long Island man was sentenced to a year and a day in federal prison for his role in a $9 million ‘shotgun’ mortgage scheme in New Jersey and New York. Yorce Yotagri, age 54, of Freeport, admitted last year that he partnered with Jorge Flores of Oakdale and Jose Piehrahita, also of Freeport, to secure several home equity lines of credit for the same properties and pocket the money before the lending banks found out, Acting U.S. Attorney Rachael A. Honig said. One of those properties was in Jersey City, a complaint filed in U.S. District Court in Newark says. Yotagri lived on another i…
Essex NJ
News
Long Island Man Sentenced In NJ/NY ‘Shotgun’ Mortgage Scheme That Cost Banks $9 Million
A Long Island man was sentenced to a year and a day in federal prison for his role in a $9 million ‘shotgun’ mortgage scheme in New Jersey and New York. Yorce Yotagri, 54, of Freeport admitted last year that he partnered with Jorge Flores of Oakdale and Jose Piehrahita, also of Freeport, to secure several home equity lines of credit for the same properties and pocket the money before the lending banks found out, Acting U.S. Attorney Rachael A. Honig said. One of those properties was in Jersey City, a complaint filed in U.S. District Court in Newark says. Yotagri lived on another in Fre…
Teaneck
News
Feds: Teaneck Owner Of 70 Multi-Family Properties Admits $150M Bank Fraud Scheme
A Teaneck landlord admitted in federal court this week that he orchestrated a $150 million bank and securities fraud scheme that lasted nearly 10 years. Seth Levine, 52, told a U.S. District Court judge in Newark via teleconference that he and others pocketed cash they received by illegally refinancing 70 multi-family buildings containing nearly 2,500 apartments. Levine said he lied on refinancing applications about the rents collected, the number of apartments leased, expenses and the true owners of the complex, Acting U.S. Attorney for New Jersey Rachael A. Honig said. That wasn’t all: L…
Nassau
News
Trio From Long Island, Queens Nabbed For Alleged Mortgage Fraud Scheme, Feds Say
Three men from Long Island and Queens have been charged in a civil complaint they allegedly engaged in a wide-ranging mortgage scheme to defraud the government. The complaint, unsealed on Monday, Jan. 4, alleges that Nassau County resident Michael Konstantinovskiy, of Roslyn Heights, and Queens residents Iskyo Aronov, of Middle Village, Ron Borovinsky, of Hollis Hills, and the companies they owned or controlled, engaged in fraudulent short sales of residential properties insured by the Federal Housing Administration (FHA), said Acting United States Attorney for the Eastern Distric…
Hackensack
News
Hackensack Dad, Son Charged With Securing $400G Mortgage With Maywood Resident's Stolen ID
A Hackensack father and son were charged in a sophisticated scheme using a stolen Maywood resident’s identity to secure a $400,000 mortgage loan. Leonard Gueye, 58, and his son Eustace, 28, who live together on Anderson Street, are charged with theft, money laundering, forgery and wrongful impersonation, among other counts. Leonard “obtained the personal identifying information of the victim” from a previous real estate deal, Bergen County Prosecutor Mark Musella said. Using that information, the elder Gueye produced bogus bank statements and W-2 forms, as well as a notarized power of atto…
Ridgefield Park-Hasbrouck Heights
News
Feds: Ridgefield Park Man Admits Role In Major Mortgage Fraud
A Ridgefield Park man admitted his role Thursday in a scheme to defraud mortgage lenders out of hundreds of thousands of dollars. Dennys A. Tapia, 54, took a deal from the government, pleading guilty to a single count of conspiring to commit bank fraud, rather than go to trial. Tapia and a number of unnamed co-conspirators produced bogus lease agreements, bank statements, pay stubs and employment verifications that secured mortgage loans for unqualified property buyers, as well as a “straw” borrower who participated in the scheme, U.S. Attorney Craig Carpenito said. A lender “issued a…
Essex NJ
Police & Fire
10 Charged In NJ Mortgage Fraud Scheme That Swindled Low Income Buyers Out Of Thousands
Ten people including two at large have been charged in a mortgage fraud scheme that included racketeering, theft, tampering with records and money laundering across Essex County, authorities said. Between 2016 and 2019, the individuals recruited unsuspecting buyers for investment properties in Newark, East Orange, and Irvington, Acting Essex County Prosecutor Theodore N. Stephens, II said Friday. With little to no down payment and questionable financial stability, the buyers were led to entrust the entire mortgage application process to Darnell Alford, of Toms River, and Travis Glover…
Essex NJ
Police & Fire
Feds: Longtime Fugitive From Brazil Surrenders In Major NJ Mortgage Fraud
A long-time Brazilian fugitive flew returned to New Jersey on Tuesday to face federal charges in a long-running mortgage fraud, authorities said. Isaac DePaula, 40, of Brazil, had been on the run since federal authorities first charged him in a 2012 complaint and then a grand jury in U.S. District Court in Newark indicted him four years later. He flew in to Newark Airport on Tuesday to face the indictment, which charges him with conspiracy to commit bank fraud and three counts of bank fraud, U.S. Attorney Craig Carpenito said. A federal judge ordered DePaula’s release pending further court…
Union
Police & Fire
Feds In Newark Bust Contractor Who They Said Scammed Public Library
Federal authorities on Thursday arrested a Union County businessman who they said pulled off a pair of scams, one of which cost the Orange Public Library $40,000. Shenandoah Adams Sr., 54, of New Providence initially bought an East Orange site on Hilton Street in 2014 on behalf of his property management company, then arranged for a $153,562 loan to a “close associate” knowing that person didn’t have the money to pay his company the balance of the $225,000 purchase price, U.S. Attorney Craig Carpenito said. At the March 2015 closing, Adams had his associate write a worthless check to cover …
Northern Highlands
Police & Fire
Park Ridge Dad, Upper Saddle River Son Sentenced To Federal Time For Mortgage Scam
A Park Ridge man was sentenced Thursday to 27 months in federal prison and his Upper Saddle River son to home confinement for eight months for defrauding mortgage lenders out of more than $300,000. George Bussanich Sr., 60, and George Bussanich Jr., 39, used most of the money to buy high-end luxury vehicles, U.S. Attorney Craig Carpenito said. Both men previously admitted in U.S. District Court in Newark that they used sham short sales of two properties -- one on Jefferson Avenue in Emerson, the other on Lillian Street in Park Ridge – to swindle mortgage lenders between 2009 and 2012. The …
Suffolk NY
Police & Fire
Long Island Real Estate Agent Charged In $150,000 Mortgage Fraud
A Long Island real estate agent has been charged after his involvement in a $150,000 mortgage fraud, according to police. Officers with the County of Nassau Police Department say they arrested Rickie Roberts, 58, of North Valley Stream on Tuesday, Oct. 1 based on a mortgage fraud complaint made by two victims from Freeport on Saturday, Aug. 24. After an investigation by Nassau County Police Department Fraud and Forgery Unit and the New York State Department of Financial Services, it was determined that Roberts showed the victims multiple properties in Bethpage over the course of three years…
Suffolk NY
News
Long Island Resident Charged In Mortgage Fraud Scheme
A Long Island resident was among five real estate professionals facing charges for their roles in a scheme to defraud prominent mortgage lenders. An indictment was unsealed in Brooklyn federal court charging Iskyo Aronov, Michael Konstantinovskiy, Tomer Dafna, Avraham Tarshish and Michael Herskowitz with conspiracy to commit wire fraud and bank fraud, and related wire fraud counts. Among those allegedly defrauded include the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and other borrowers. Konstantinovskiy, Dafna, Tarshish, and Herskowitz were arreste…
Pascack Valley
Police & Fire
Park Ridge Con Man Admits Cooking Up $300,000 Mortgage Scam With Upper Saddle River Son
A Park Ridge con man already facing state prison time admitted in federal court on Wednesday that he and his son defrauded mortgage lenders out of more than $300,000, using most of the money to buy high-end luxury vehicles. George Bussanich Sr., 60, cut a deal with the government through which he pleaded guilty to bank fraud conspiracy and tax evasion in exchange for consideration at his Sept. 25 sentencing in U.S. District Court in Newark. His son George Bussanich Jr., 39, of Upper Saddle River, is scheduled to be sentenced the same day for his October 2017 guilty plea to tax evasion. For…
Nassau
News
Long Island Man Sentenced For Swindling 32 Homeowners Out Of More Than $600K
A Long Island man will spend time behind bars after pleading guilty to stealing more than $600,000 from 32 homeowners as part of a mortgage modification scheme. Dix Hills resident Mark Savransky, 59, has been sentenced to a term of three to six years in prison for scamming the homeowners out of a total of $601,546.92, which he must also pay in restitution. Savransky pleaded guilty in October last year to two counts of second-degree grand larceny, felonies, and scheme to defraud, a misdemeanor. According to Nassau County District Attorney Madeline Singas, Savransky operated a mortgage modi…
Mount Pleasant
News
Area Judge Pleads Guilty To False Statement, Obstructing FBI Agents
A 59-year-old New City woman and former judge pleaded guilty on Thursday, April 26 for making false statements in connection with a loan application to buy a home in the Town of Monroe in Orange County. Federal prosecutors said that Lurlyn A. Winchester, a former Justice for the Town Court of Monroe, pled guilty before U.S. Magistrate Judge Judith C. McCarthy, in federal court in White Plains,. She faces up to 30 years in federal prison and more than $1 million in fines when she is sentenced in August. Prosecutors allege that the Rockland County resident lied on her application in order to…
