Archives For New York

Selim Zherka, 46, Somers, New York, was indicted by a federal grand jury in White Plains for submitting multiple false loan applications to banks, tax fraud, wire fraud, and witness tampering. Zherka allegedly obtained over $146 million in loans from three banks for the purchase and/or refinancing of apartment house complexes by lying about the purchase prices, the down payments, his assets, income, and tax returns.

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Rosaura Hernandez, aka Rosa Diaz, South Ozone Park, New York, was arrested on a charge of grand larceny for allegedly taking funds intended for a loan modification and using them for her personal use.

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Tania Ayala, 37, Uniondale, New York, has been arrested on charges of grand larceny on Sunday, September 07, 2014 at 5:50 P.M., for her alleged role in a mortgage modification scheme whereby she directed victims to send mortgage payments to her personal P.O. Box, but failed to make the mortgage payments or apply for modifications.

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Ped Abghari, a/k/a Ted Allen, 37, Irvine, California, Dionysius Fiumano, a/k/a “D,” 43, Irvine, and Justin Romano, 40, Blue Point, New York, have been charged with  engaging in a mortgage modification scheme that defrauded over 8,000 homeowners in all 50 states out of over $18.5 million, in what is believed to be the largest mortgage modification scheme ever charged.

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Michael C. Kaufman, Pittsford, New York, who was convicted following a federal jury trial of conspiracy to commit bank and loan fraud, as well as bank and loan fraud, was sentenced to a 12 months in prison and ordered to pay restitution in the amount of $1,360,893.72 by U.S. District Judge Frank P. Geraci.

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James Monahan, 44, New York, New York, owner of real estate investment company Panam Management Group, Inc., and a former sergeant in the New York City Police Department, was sentenced to 58 months in prison for obtaining approximately $4.7 million from investors for a real estate development project he claimed to be constructing and then misappropriated those funds. The real estate project was never developed and investors lost all of their money.

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Salmaan Siddiqui, a former Vice President in the Investment Banking Division of Credit Suisse Group, was sentenced to time served in connection with a scheme to hide more than $100 million in losses in a mortgage-backed securities trading book at Credit Suisse.

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David Pizio, 58, Jamesville, New York, entered a guilty plea in U.S. District Court to the felony offense of conspiracy to commit bank fraud. The defendant is facing a statutory maximum of 30 years imprisonment and a maximum fine of $1,000,000.00.

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Sofia Atias, 44, Great Neck, New York, Joseph Atias, 50, Great Neck, Nicholas A. Pellegrini, 51, Garden City, New York, and Paula Berckhoff, 34, Garden City, have been charged with bank fraud and conspiracy for allegedly defrauding Bank of America of over half a million dollars by avoiding foreclosure on a home through a fraudulent short sale of the property to a straw buyer.

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A six-count indictment was unsealed in federal court charging six people with bank and wire fraud concerning their alleged participation in a scheme to defraud lenders using fraudulent loan applications, falsified HUD-1 Settlement Statements and inflated appraisals.

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