May’s Perp Walk: Lifestyles of the Charged, Tried and Convicted in NYC Real Estate
The Office of Thrift Supervision issued a report on Fraud and Insider Abuse that revealed mortgage fraud investigations by the Federal Bureau of Investigations was up 400% in 2009 from the year before. The FBI’s Mortgage Fraud Task Force estimates that 63% of investigations of mortgage fraud perpetrated against financial institutions involved $1 million plus in [...]
698a De Kalb Avenue: The House that Kept On Giving
This mixed used, 2 story property at 698a De Kalb Avenue in the northern section of Bedford Stuyvesant has a lot in common with other homes in the neighborhood. It is exhibit A in an 82 count indictment brought by the Kings County District Attorney’s office against 7 co-conspirators in a mortgage fraud ring that managed [...]
Goldman Sachs, Politics and Foreclosure
By now you’ve heard that Goldman Sachs is facing a civil lawsuit bought by the Securities & Exchange Commission based on allegations of fraud, or did you hear it differently than I did. I know those that heard the news only took away what appealed to their sense of outrage at Wall Street’s greed. Hearing that [...]
Foreclosure Scams: the Uglier Side of the Crisis
With more existing homes coming to market alongside recently constructed houses and condominiums in Brooklyn, all home shoppers and real estate investors are hunting for the best deals available, by any means necessary. But as you walk though streets in the outer boroughs, they’re more sellers than there are buyers. From one block to the [...]
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