A Brooklyn developer accused of swindling some 40 Crown Heights families out of millions was ordered held without bail Tuesday night after returning from his Israel hideout.
No bail after fugitive developer busted, charged in massive condo scam
Eliyahu Ezagui, 47, pocketed $15 million in mortgages on condos he sold to families living in two buildings he developed in the Brooklyn neighborhood. Authorities said it was the biggest local case of subprime mortgage fraud on record.
All the families are Hasidic, like Ezagui, and face eviction because Ezagui stopped making payments on the buildings at 770 Lefferts Ave. and 613 East New York Ave. He obtained the mortgages because he kept the apartments' deeds, rather than turning them over to buyers.
Ezagui fled to Israel late last year after his scheme started unraveling and was arrested on a warrant Sunday at Kennedy Airport.