Brooklyn Mortgage Fraudsters Busted

Categories: Crime

A year ago, Senator Chuck Schumer allocated $875,000 to create a new unit within the Brooklyn District Attorney's office dedicated to fighting mortgage fraud. Yesterday, that investment paid its first dividends in the form of a 12 indictments for a variety of mortgage and real estate scams. One of them happened in Clinton Hill. Remember 467 Vanderbilt Avenue (above), the Radusky-designed new development that went up in 2006 and 2007? We wrote a post about it when a banner finally went up in November 2007 advertising apartments for rent within the building. According to the indictments announced yesterday by DA Hynes, the guy who owned the rundown house that used to occupy the site, filed a bogus deed after the subsequent owner built a new building on the property; he then allegedly proceeded to change the locks on the building and collect rent from tenants. Amazing! Check out The Real Deal article for more details on the other scams.
Twelve Indicted in Alleged Brooklyn Mortgage Fraud [TRD]

5 Comments

By Butterfly on February 5, 2010 9:25 AM

quote:
filed a bogus deed after the subsequent owner built a new building on the property; he then allegedly proceeded to change the locks on the building and collect rent from tenants

hahahahhahahahaha. part of me finds that amazingly awesome. *dials locksmith*

*rob*

By Heather on February 5, 2010 10:05 AM

Ah, he TRIED to collect rent from the tenants. And he's insane. And I need to read this article.

By Montrose Morris on February 5, 2010 10:43 AM

Gotta say, the cojones of some people just leaves you in awe. That said, throw the book at the whole bunch. There are many, many more out there.

By Ben Gazi on February 5, 2010 1:44 PM

The imbecile Sbeglia a lawyer, pulled this kind of scam off a few years ago...got busted, did some time and is now out.

By hannible on February 6, 2010 7:19 PM

Anything happen to the smart bankers that financed this scam? Or are they still counting their bonus money?

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Brooklyn Mortgage Fraudsters Busted

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