Monday, October 18, 2010

Konty's going up the river

From the NY Post:

A city real-estate developer yesterday pleaded guilty to masterminding a $92 million mortgage-fraud scheme.

Thomas Kontogiannis, 61, admitted in Brooklyn federal court that he bought land parcels in Brooklyn and Queens from 2001 to 2003, subdivided the properties, and obtained bogus appraisals to use on loan applications.

Straw buyers then applied for mortgages and took out multiple loans on the same properties, using mortgage and title companies also involved in the scheme, prosecutors said.

Kontogiannis faces more than 30 years behind bars under a plea agreement federal prosecutors.

8 comments:

Anonymous said...

Time served and 5 years probation maybe 500 hours community service

Anonymous said...

Ye of little faith.

We can dream, can't we?

Anonymous said...

Not Konti, but the Feds should check out the properties created at 82-94, 82-92 and 82-90 167th Street in Jamaica. Real funny business going on there with mortgages, lot size, etc.!

gary said...

Crappy, I emailed you about this guy in June 2007 and July 2007. Check your records!

He was also involved in the bribery of corrupt GOP congressman Randy "Duke" Cunningham. A huge story that did not get a line of coverage in a single NYC wide or Queens local paper.

Anonymous said...

Round up the usual Greeks!

Anonymous said...

Round up the usual Greeks!

Thats so racist. Besides, we all know this guy has an alibi. He was working at the diner!

Anonymous said...

He's only one in a thousand in this city that got away with this shit.

The others are vacationing in Hawaii now...

Anonymous said...

When will Kontogiannis,Group Kappa corp,Plaza Real Estate & Halifax get their just deserts for mortgage fraud here in Springfield Gardens. Queens block 13041 is a real disgrace and several of the elected officials and city agencies have tour this complex. Still waiting for heat and hot water. This is a rent stabilized garden apartment complex,one of several currently facing problems in Queens.