Friday, June 26, 2009
Man Charged With $2.3 Million Real Estate Loan Theft
Mayer Goldberger, 50, Brooklyn, New York, has been charged with Grand Larceny in the First Degree, Criminal Possession of a Forged Instrument in the Second Degree, and Scheme to Defraud in the First Degree. He faces up to 25 years in prison if convicted. He was arrested by DA Investigators. He is scheduled to be arraigned in First District Court, Hempstead.
Between May 1, 2008 and July 14, 2008, Mayer Goldberger allegedly secured a short-term loan in the amount of $2.3 million from BRT Realty Trust, a real estate investment trust located in Great Neck, New York. The loan was to be secured by a first mortgage on real property owned by Hartford LLC and located in Connecticut, and the personal guarantee of Goldberger.
As part of the criminal scheme, Goldberger caused a title report to be prepared by Speedy Title Services LLC, a company created by Goldberger in June 2008. The report failed to disclose material information, including the existence of a recorded and outstanding 2007 mortgage on the property which was issued by Hartford LLC to New York Community Bank in the amount of $3 million, but did include an apparent bogus 2007 mortgage allegedly issued by Hartford LLC to Hartford & York LLC, another company in which Goldberger was the sole member, in the amount of $2.8 million.
In addition, through Speedy Title Services, Goldberger caused a fraudulent Title Commitment and Policy of Title Insurance purportedly issued by First American Title Insurance Company to be presented to BRT. Not only did First American not issue the Commitment and Policy but the authorized signature on First American documents provided by Speedy was that of an individual who had passed away in February 2008, approximately five months before the closing which occurred on July 11, 2008.
On July 14, 2008 the entire $2.3 million was wired into accounts as directed by Meyer Goldberger, including $2 million into the account of Hartford & York. However, the mortgage issued by Hartford LLC to BRT was never recorded and the loan went into default in January 2009 when the entire $2.3 million principal was due to be repaid.
Authorities are still investigating how Goldberger spent the stolen money.
Nassau County (NY) District Attorney Kathleen Rice announced the charges.
"Bad mortgages, fraudulent loans, and real estate fraud leave honest businesses holding the bag," Rice said. "Bogus loans like these make it that much harder for honest homebuyers to do business at a fair price."
Assistant District Attorney and Chief of the DA's Public Corruption Bureau, Marshall Trager, is handling the case for the District Attorney's Office. Goldberger is being represented by Robert McDonald, Esq., of Mineola.
The charges are merely accusations and the defendant is presumed innocent until and unless proven guilty.
mortgage fraud
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
