Archives For New York

House-napping? The newest invasion?

Rachel Dollar —  August 10, 2015 — Leave a comment

Brandon Sestoso, 33, Hicksville, New York, his brother Chas Sestoso, 31, Hicksville, New York and Jesse Kusinow, 32, Howell, New  Jersey were charged with breaking into a residence in Jamaica Estates, New York in April, 2015, changing the locks and refusing to allow the true homeowners to enter the premises until they transferred the deed of the house to the defendants.

Queens District Attorney Richard A. Brown said, “In a truly bizarre case, the defendants are accused of breaking into a Queens residence and locking the true owners out, then forcing them to negotiate with the defendants if they wanted to gain access to their own home. If convicted, the defendants face lengthy  time behind bars.” Continue Reading…

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Court Holds Claims of Forged Deeds Not Subject to Time Limits (New York)

Although the CPLR sets forth an applicable statute of limitations period for virtually all causes of action, and otherwise provides for a catch-all limitations period under CPLR 213(1) for claims that are not specifically delineated, the Court of Appeals has recently held that one particular, and not altogether uncommon, cause of action is not subject to any limitations period. In a remarkable 4-3 holding in Faison v. Lewis, the majority of the Court of Appeals held that a claim alleging forgery of a deed is not subject to any statute of limitations defense.

 Posted by Rachel Dollar  onAugust 5, 2015 In Mortgage Fraud on the web ,
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Mortgage Modification Representative Pleads Guilty

Rachel Dollar —  July 30, 2015 — Leave a comment

Jonathan Lyons, 53, a former sales representative at a company purporting to provide mortgage modification services, Rockville Center, New York, pled guilty in Manhattan federal court for his role in a multimillion-dollar scheme that victimized more than 500 financially struggling homeowners across the country.  Lyons, who was arrested in October 2013, pled guilty before U.S. District Judge George B. Daniels.

According to the allegations contained in the Indictment and related Informations, the plea agreements, and statements made in court proceedings: Continue Reading…

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Real Estate Broker

New York Man Sentenced in Million Dollar Mortgage Fraud Scheme

Rachel Dollar —  July 29, 2015 — Leave a comment

Michael St. Claire, 36, Skaneateles, New York was sentenced to six months in prison, an additional four months of home confinement, and ordered to pay $1,257,945 in restitution in connection with a mortgage fraud scheme which resulted in losses of more than $1 million to lenders. St. Claire previously pleaded guilty to conspiracy to commit wire fraud. Continue Reading…

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Real Estate Investment Firm Owners Arrested on Fraud Charges

Allison Tussey —  June 4, 2015 — Leave a comment

Carlton P. Cabot, 52, Stamford, Connecticut, and Timothy J. Kroll, 44, New Hope, Pennsylvania, – the former Chief Executive Officer and Chief Operating Officer of Cabot Investment Properties LLC, respectively – were arrested for allegedly participating in a scheme to defraud investors in numerous real estate investments by misappropriating over $17 million to pay for personal and business expenses and covering up their fraud with manipulated financial statements.

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3 Charged With Deceiving Homeowners into Selling Their Homes

Allison Tussey —  May 26, 2015 — Leave a comment

Mario Alvarenga, Rajesh Maddiwar, and Amir Meiri were arrested for participating in a scheme wherein, through an organization that advertised help to those seeking loan modifications to avoid foreclosure, obtained millions of dollars by deceiving homeowners into selling their homes to a company associated with the defendants.

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Appraiser Pleads Guilty to $1M Appraisal Fraud Scheme

Allison Tussey —  May 14, 2015 — Leave a comment

Steven Essig, Syracuse, New York, a licensed appraiser and the owner of an appraisal company in Syracuse, pleaded guilty to a felony charge stemming from making false entries in an appraisal report. The falsified report was used to obtain a mortgage as part of a million dollar mortgage fraud scheme.

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CEO Admits Defrauding Bank in Sale of Non-Performing Loans

Allison Tussey —  May 4, 2015 — Leave a comment

Poppi Metaxas, 62, Hillsborough, California, the former President and Chief Executive Officer of Gateway Bank, FSB, pleaded guilty to conspiracy to commit bank fraud for her role in defrauding the bank of more than $1.8 million in the aftermath of the financial crisis.

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FHA Mortgage Fraud

2 Men Charged with Theft of Home After Foreclosure

Allison Tussey —  April 9, 2015 — 2 Comments

Semyon (a/k/a Sam) Muratov, 34, and Yuriy (a/k/a Erick) Munarov, 31, both of Forest Hills, Queens, New York, the winning bidders at a foreclosure auction, have been charged with illegally evicting a homeowner from his lawful residence and then breaking-in and boarding up doors and windows prior to legally assuming ownership and taking possession of the property.

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Attorney Pleads Guilty to Mortgage Fraud Scheme

Allison Tussey —  January 13, 2015 — Leave a comment

Theresa Sanders, 56, most recently of Westerville, Ohio, pleaded guilty to residential mortgage fraud, in the second degree, and grand larceny, in the second degree, in Onondaga County Court, New York, before Judge Anthony Aloi.

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