From CBS 2:
Eleven people and two corporations have been indicted by a grand jury in a fraud scheme that cost several homeowners their property deeds in Queens, prosecutors said Wednesday.
The defendants – nine of whom were in custody of as of Wednesday and two of whom were still being sought – were accused in a scheme where they fraudulently took the deeds away from homeowners, according to the Queens District Attorney’s office.
Half of the victims were elderly, prosecutors said.
The investigation began in 2014, when several Queens homeowners told prosecutors they had received cold calls from people employed by the Kings Development Group in Queens. The callers allegedly said they would assist the homeowners with whatever financial problems they were having with their homes, prosecutors said.
It turned out that the company was not assisting the homeowners, but tricking them into signing over the deeds to their property, prosecutors said.
The deeds were transferred to a corporate entity, but the homeowners were still financially responsible for their mortgages, prosecutors said. Once the new deeds were recorded, the defendants allegedly advised the current tenants that they were the new owners and started collecting monthly rents, evicted the homeowners who were now their tenants, or told the New York City Housing Authority and the Department of Social Services that they were the new homeowners and started collecting subsidies, prosecutors said.
6 comments:
Good ol' laissez faire capitalism. Bullshit.
Rob in Manhattan.
Sounds like a crime, not capitalism. Stupid is as stupid does. There's a sucker born every minute.
As despicable as this is every one of them will walk on probation or suspended sentences.
why are people so scared to give a lawyer a few hundred to go over any contract and keep them from getting scammed???
Hey Rob in Manhattan, why are you on site? Do we troll ManhattanVomit.com? Capitalism is not fraud. I agree with Richard Stefan about lawyers. They are worth every penny when it comes to protecting your HOME!!! But more importantly, Rob in Manhattan. Keep your Marxist BS in the UES where it belongs.
Austin from LIC
With an electorate like this its no surprise that the borough is like this.
It only a matter of time before things here get civilized. Maybe then "Far East Side" can join the rest of Manhattan or maybe Brooklyn (if they have us).
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