Ethan Ellner, 54, Plainview, New York, pleaded guilty to three counts of Grand Larceny 2nd degree, one count of Conspiracy 4th degree and one count of Scheme to Defraud 1st degree on charges stemming from the indictment wherein Ellner, George Guldi, a former Suffolk County Legislator and others were charged with grand larceny, conspiracy and scheme to defraud in regards to a multi-million dollar mortgage fraud scheme.
As previously reported on Mortgage Fraud Blob, Ethan Ellner, an attorney and owner of Suburban Abstract, a title company in Stony Brook, was arrested on March 25, 2009 as a result of an investigation conducted by the District Attorney’s Mortgage Fraud Unit formed by District Attorney Spota in 2008. Ellner admitted in court that he, Guldi, Donald MacPherson and others defrauded lending institutions of millions of dollars by using forged documents, false employment and income information on applications, straw buyers, false powers of attorney, deed flipping, and mortgage stacking.
District Attorney Tom Spota said “Ellner’s plea of guilty represents a major step forward in the prosecution of this band of criminals led by Guldi and MacPherson operating on the East End to steal millions.”
Ellner who as a result of his plea will have his law license suspended is on for sentencing before County Judge FX Doyle on March 2, 2010 and faces a maximum term of 3 to 9 years incarceration.
George Guldi’s next court date is January 11, 2010.