Non-profit ED and Wife Guilty of Mortgage Fraud and Corruption

Rachel Dollar —  May 23, 2017 — 1 Comment

Kwame Insaidoo 60, Bay Shore, Long Island, New York, the former executive director of United Block Association (“UBA”), a New York-based non-profit organization, and his wife Roxanna Insaidoo, 63, Bay Shore, Long Island, New York, were found guilty in Manhattan federal court of embezzlement from a federally funded program, money laundering, and defrauding their mortgage lender. Kwame Insaidoo was also found guilty of defrauding the City of New York in connection with UBA’s contracts to operate senior centers in Upper Manhattan. The jury convicted Kwame and Roxanna Insaidoo on all counts in the superseding indictment following a one-week trial before U.S. District Judge Valerie E. Caproni.

In 2011, Kwame and Roxanna Insaidoo engaged in a scheme to defraud their mortgage lender, in connection with a modification of their mortgage under the federally sponsored Home Affordable Modification Program, by underreporting their income and assets. This scheme led to a write-off of almost $200,000 from Kwame and Roxanna Insaidoo’s home mortgage.

Joon H. Kim, the Acting United States Attorney for the Southern District of New York, announced the verdict and praised the outstanding investigative work of the New York City Department of Investigation and the Criminal Investigators of the United States Attorney’s Office for the Southern District of New York.

The case is being prosecuted by the Office’s Public Corruption Unit. Assistant U.S. Attorneys Eli J. Mark, David Zhou, and Tatiana Martins are in charge of the prosecution.

Rachel Dollar

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One response to Non-profit ED and Wife Guilty of Mortgage Fraud and Corruption

  1. Dear Rachel Dollar, Thank you so much for a nice informative blog post on Mortgage Fraud and Corruption.

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