Erin Davis, 44, Yonkers, New York, former sales manager for the now defunct Buy-A-Home real estate brokerage business, was sentenced in Manhattan, New York, federal court to 24 months in prison for participating in a multi-million dollar mortgage fraud scheme.
Archives For November 30, 1999
Gerard Canino, 51, Merrick, New York, the president and owner of First Class Equities (FCE), was sentenced in Manhattan, New York, federal court to 97 months in prison for his participation in a $66 million mortgage fraud scheme.
James Kalpakis, 52, Old Westbury, New York, a disbarred attorney has been indicted on multiple felonies for stealing more than $4 million from multiple individuals and banks he was representing in real estate deals, including his own wife.
Mary Brainard, 60, Seneca Falls, New York, pleaded guilty before U.S. District Judge Frank P. Geraci to wire fraud affecting a financial institution. The charge carries a maximum penalty of 30 years in prison, a fine of $1,000,000, or both.
Kareem Serageldin, the former Managing Director/Global Head of Structured Credit in the Investment Banking Division of Credit Suisse Group, pled guilty to mortgage-related fraud.
Golden First Mortgage Corp., and its owner, operator, and president, David Movtady, are the subjects of a civil mortgage fraud lawsuit.
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Kevin Hymes, 40, North Castle, New York, pled guilty to his role in a real estate fraud scheme whereby he misappropriated deposits and closing funds.
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Gershon Barkany, 29, Far Rockaway, New York, was arrested by the FBI based on a criminal complaint alleging that the he defrauded investors by promising to use their money in risk-free deals to purchase and then immediately re-sell at a profit large real estate properties located in New York City and New Jersey.
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Neal Sultzer, Plainview, New York, has been sentenced to two years in prison for his role in a conspiracy to commit wire fraud and bank fraud in connection with a $66 million mortgage fraud scheme involving over 100 home mortgage loans for residential properties.
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Alicia Holmes, 49, pled guilty to a three-count indictment, charging Holmes with devising and operating a scheme to defraud individuals and entities of hundreds of thousands of dollars in accommodations, goods, services, and money.