Multi-Million Dollar Fraud Scheme Causes Commercial Property Default

Case Overview

This case involves alleged mortgage fraud and larceny from a major banking institution. The defendants were accused of fraudulently obtaining mortgage funds in excess of $12 million pertaining to the purchase of a commercial property. The DA alleged that the defendants pushed through more than $12 million in fraudulent mortgage loan transactions in 2 years by falsely inflating the income and assets of the borrowers. They claimed the defendants’ alleged actions resulted in the commercial property going into default. An expert in mortgage fraud was sought to opine on the case.

Questions to the Real Estate expert and their responses

Please describe your background in mortgages.

I have 25+ years of experience as a licensed real estate broker and mortgage broker. I have extensive experience with mortgages, HUD settlement statements, state banking department regulations, and closing settlements. I currently serve as the president and CEO for a commercial real estate brokerage and a mortgage consulting firm.

About the expert

This expert has over 25 years of experience as a licensed real estate broker and mortgage broker. He earned his BS in accounting from St. Francis College and his MBA in Finance from Wagner College. He is very active in his field as a member of several associations including the National Association of Realtors, the New York State Association of Realtors, and the New York Association of Mortgage Brokers. Formerly, he served as president and CEO for his own company named J. Orlando & Co. as a tax accountant. Currently, he is the president and CEO for a commercial real estate brokerage and a mortgage consulting firm in New York City.

E-007838

Specialties:

Real Estate