Monday, December 15, 2008

27 Arrests, 9 Indictments In Ongoing NY Mortgage Fraud Probe

Louis LaDonna, West Islip, New York, was charged in a 13-count indictment with scheming to defraud lenders out of approximately two and a half million dollars from the late fall of 2006 through the spring of 2007.  Judge James Hudson set bail for LaDonna at $75,000 cash or $250,000 bond.

LaDonna, operating out of his home as LaDonna Properties, allegedly inflated the value of single family houses in West Islip, Lindenhurst and North Babylon and procured “straw buyers” with fake documentation overstating their incomes to qualify for no down payment mortgages. LaDonna’s buyers made two or three payments to the lender before walking away and leaving each home in foreclosure.

Marie Poulard, 50, East Quogue, New York and Frank Spindel, 49, Miller Place, New York, were arrested by district attorney detectives Monday and Tuesday, December 8 and 9, 2008 respectively, and charged with first degree grand larceny, a class B felony.  According to Suffolk County District Attorney Spota, the couple swindled a now-defunct mortgage lender, American Brokers Conduit of Melville, into $1.2 million dollars in loans (a first mortgage of $927,000 and a second mortgage of $247,000) to buy a 1.4 acre property in East Quogue with a pool and tennis court.

“The investigation has found Poulard and Spindel used a straw purchaser – a man who earned $20,000 a year parking cars in New York City –who filed false documentation with American Brokers Conduit mortgage company that he earned $23,000 A MONTH as a regional sales manager for a Lindenhurst company selling high end boats”, said Spota.  The district attorney noted Spindel was paid over $25,000 in commissions for the deal.

The arrests were part of an ongoing investigation of mortgage fraud that has found nine million dollars in fraudulent mortgages and equity thefts secured with non-existent and overstated assets by scammers to obtain fraudulent mortgages.  Thus far the investigation has resulted in the arrests of 27 suspects, according to Spota.

Spota said prosecutors in the Mortgage Fraud Unit of the Economic Crimes Bureau have secured nine indictments this year and are currently working 30 mortgage fraud investigations. 

“What we’re seeing in Suffolk County is an explosion of fraud involving, depending on the scheme, every facet of the mortgage process; from applicants to the mortgage brokers to bank employees to appraisers,” Spota said.

The mortgage fraud investigation also uncovered a scheme involving mortgage brokers John Tuozzo, 43, Merrick, New York and Steven Winick, 40, Syosset, New York and former Citibank employee Yvonne Rojas, 30, Brentwood, New York.  Tuozzo and Winick are alleged to have used false documents provided by Rojas, including phony verifications of bank balances, to get their clients qualified for mortgages.  To date, DA Spota said, mortgage fraud unit detectives have found evidence involving Rojas in 96 fraudulent mortgage schemes and the issuance of false verifications of deposit for over a dozen different mortgage brokers. Rojas, Winnick and Tuozzo are charged with falsifying business records in the first Degree and issuing false financial statements.

mortgage fraud

1. In one of the cases mentioned, you state that Frank Spindel was working with Marie Poullard on a scam.  The two never met until she came to purchase the home.  Frank was a salesperson for the broker, Worldwide Capital Mortgage located in Bayshore NY.  ALL documents were prepared by the underwriter from Worldwide Capital and verified by American Home Mortgage.  If everything was cleared by all parties then is is their greed that should be on trial.  We have no doubt that all will be cleared of these charges

   Posted by  on  01/02  at  03:12 PM

2. American General Finance Corp Attorney David J. Rosenblum defending defunct D&M;Financial of Bellville New Jersey the Commack branch of AGF is summoned to USBC EDNY to answer charges by debtor John Herbert that AGF altered documents originated by D&M;Financial and defunct Island Home Designs Inc/Corp. President Petros Vlitas and IHDI Executive Officer Andreas Nicolaou. I have a NYS Supreme Court Judgment AND PROPERTY EXECUTION against IHDI/C Petros Vlitas and et.al IHDI AND CORP. moved out of their OLD PLACE OF BUSINESS LOCATED AT 1955 Grand Ave. Baldwin NY 11510 and their office at 136 ROCKAWAY AVENUE, VALLEY STREAM, NY. 11580
   Now d/b/a Island Home Remoldeling 41 Bluespruce Road, Levittown NY. ANDREAS NICOLAOU name is recorded on the deed to that property.
   IHD INC/CORP. FRUDULENTLY advertise their business as Procurers of FHA TITLE-1 LOANS for new home owners. PETROS VLITAS AND ANDREAS NICOLAOU (THE TINMEN)Had a direct link to (THE MIDDLE MEN) D&M;Financial and American General Finance (THE FINANCER IN THE SCHEME) The three entities conducted an elaberate scame to steal the equity and homes of unsuspecting home buyers.
   Well, D&M;Financual filed bankruptcy and dodged the consumers who sued. American General Financial, PETROS VLITAS AND ADREAS NICOLAOU OF ISLAND HOME REMOLDELING WON’T BE SO LUCKY.
   AGF ATTORNEY DAVID J. ROSENBLUM will have to ans. multiple charges of complity in fraudulent mortgage banking, consumer mortgage fraud, FHA, HUD AND MORE. The hearing is on for Tuesday MAY 5, 2009 @ 930AM Before Federal Court Justice ALAN S. Trust at the USBC EDNY Federal Plaza Central Islip, NY. There is also an open case in Supreme Court Central Islip, NY. AMERICAN GENERAL FINANCE vs. John Herbert. Read my blog. Seeking victims of D&M;and AGF to initiate a CLASS ACTION SUIT AGAINST AGF. American General Finance needs to be exposed.

   Posted by  on  05/03  at  11:08 AM

3. ADDENDUM;
   To my post of 02/21/2010
   The total work PETROS VLITAS AND ANDREAS NICOLAUO OF ISLAND HOME DESIGNS CORP. COMPLETED AT MY HOME IS
   1, The shoddy pouring of a drive way with only a partial iron mess reinforcement. a 2” deep skirt that cracked within a month after installed, and two rear window awnings and basement stairwell awning. The first year after installation, I had to pay a man who works day labor to help me reinforce the awning because they were pulling away from the house.
   In total AGF want’s me to pay over $60K for a concrete driveway, narrow walkway, rear patio and three awnings.

   Posted by  on  02/21  at  11:46 AM