Owner of Buy At Home Real Estate Brokerage Sentenced

admin —  April 29, 2013 — Leave a comment

Mitchell Cohen, the owner of the now defunct Buy-A-Home real estate brokerage business, was sentenced in Manhattan, New York, federal court to 70 months in prison for participating in a multi-million dollar mortgage fraud scheme and for committing perjury.

Cohen was indicted in July 2012 and pled guilty in December 2012 to one count of conspiracy to commit mail, wire and bank fraud and one count of perjury in connection with statements he made in a civil lawsuit filed against him. Cohen was sentenced today before U.S. District Judge Denise L. Cote.

A settlement was also reached in a lawsuit against Cohen in which he admitted to conspiring with others to secure federally-insured mortgage loans through fraud. Under that settlement, a $2.7 million judgment will be entered against Cohen, and he will be permanently barred from participating in real estate sales involving federally-insured mortgages and from any advertising, marketing, or solicitation of business involving such sales. The settlement was approved by U.S. District Judge Lorna G. Schofield.

Preet Bharara, the United States Attorney for the Southern District of New York, announced the sentence.

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