As demonstrated by this indictment, FHFA-OIG will investigate and hold accountable those who seek to victimize the government-sponsored entities supervised and regulated by FHFA, stated FHFA-OIG Special Agent-in-Charge Manchak. As a result, defendants not only acquired the properties for below-fair market value prices, but obtained broker fees in the transactions and induced lenders to release the FHA-insured mortgages at a loss. He hung up on me.. The father of five picked up tabs at fancy Italian restaurants and doted on his disabled daughter. Between 2013 and 2016, Aronov and his co-conspirators engaged in the short sales of nine homes in Brooklyn (three in Bed-Stuy and two in Bushwick) and one in Queens Village acquiring the properties at depressed prices through HUDs pre-foreclosure sale program. The men face up to 30 years in prison and a $1 million fine if convicted in the federal case. Fax Line: 718-254-7508. The Federal Housing Finance Agency, Office of Inspector General (FHFA-OIG) is committed to holding accountable those who waste, steal, or abuse the resources of the Government-Sponsored Enterprises regulated by FHFA. Casetext, Inc. and Casetext are not a law firm and do not provide legal advice. MARGO K. BRODIE, UNITED STATES DISTRICT JUDGE. (Def. Josh's co-stars James Harris and David Parnes also made the list after they sold the most expensive home in L.A. history at a whopping $120 million. 's Mot. HUD, in turn, pays the lenders claim from federal funds. 31(a), 31(e).) New York state also passed legislation this year meant to better protect homeowners who had been the target of predatory investment or fraud. Bravo's Million Dollar Listing L.A. cast slams Netflix's Selling Sunset for being 'more dating and less real estate' We pay for your stories! A locked padlock If you have experience and are savvy digitally, let us know about your interest in any of the following categories: creation of content and data for digital or print journalism promotion, sales and sponsorship packaging, management of a beat for environment, urban sustainability, real estate & business, food and drink, arts & entertainment, civic issues & politics, or hyperlocal neighborhood happenings. ), On April 30, 2021, Herskowitz moved to dismiss the Indictment pursuant to Rules 12(b)(2) and (b)(3)(B)(v) of the Federal Rules of Criminal Procedure for "fail[ing] to give [n]otice of the criminal acts allegedly committed as required by Due Process of Law." Official websites use .gov It's no secret that Josh's wife is incredibly successful when it comes to real estate, but there is one thing . 16 (citing United States v. Gabriel, 920 F.Supp. The Future of Million Dollar Listing. MDLNY's Luis D. Ortiz Accuses Ex Nikita Singh of Trying to "Destroy His Life" and "Maliciously" Taking Daughter Away as She Responds. In the process, defendants made a host of material misrepresentations in critical transaction documents. (Serhants representative did not return a request for comment.). The Federal Housing Finance Agency, Office of Inspector General (FHFA-OIG) is committed to holding accountable those who waste, steal, or abuse the resources of the Government-Sponsored Enterprises regulated by FHFA. BuzzFeed News linked the group to nearly 240 homes. (718) 254-6323. 9845 86. Id. Fed. Then It Was Sold On Reality TV. He said he would cut back by no longer going to his golf club, recalled the real estate pro, who lost around $70,000. (Id. Between 2013 and 2016, Aronov and his co-conspirators engaged in the "short sales" of nine homes in Brooklyn (three in Bed-Stuy and two in Bushwick) and one in Queens Village - acquiring the. Not only does the Indictment provide specific factual allegations in support of Herskowitz's involvement in the MIP Scheme through his assistance with the purchase of 1219 Jefferson Avenue and 2403 Dean Street as discussed above, (see Ind. ISKYO ARONOV (also known as Isaac Aronov) UNITED STATES OF AMERICA, v. ISKYO ARONOV, MICHAEL KONSTANTINOVSKIY, TOMER DAFNA, AVRAHAM TARSHISH, and MICHAEL HERSKOWITZ, Defendants. Email address: drroyofcr@gmail.com. While Brooklyn has become the epitome of cool and hip in recent years, for those that were born here, raised families here and improved communities over the years, Brooklyn has never been uncool. Seth D. DuCharme, Acting United States Attorney for the Eastern District of New York, Christina Scaringi, Special Agent-in-Charge, U.S. Department of Housing and Urban Development, Office of the Inspector General, Northeast Region (HUD-OIG), and Robert Manchak, Special Agent-in-Charge, Federal Housing Finance Agency, Office of Inspector General, Northeast Region (FHFA-OIG), announced the filing. 1344 (1990); see also United States v. Calderon, 944 F.3d 72, 91 (2d Cir. The governments complaint intervenes in a lawsuit originally brought by under the qui tam provisions of the FCA. The complaint details 10 times between 2013 and 2016 that the men Iskyo Aronov, RonBorovinsky and Michael Konstantinovskiy preyed on homeowners hoping to avoid foreclosure by setting up fake "short sales" of their homes through a federal program. As a further part of the scheme, the defendants provided the mortgage lenders and servicers with false and misleading information in transaction documents and failed to disclose either payments made to the borrower and others related to short sale or contemporaneous agreements to transfer the properties at inflated prices. If Brooklyn were an independent city it would be the fourth largest city in the United States. While . As alleged, these defendants fraudulently obtained homes at depressed prices at the expense of a taxpayer-funded program designed to assist borrowers seeking the American Dream of home ownership, Acting U.S. Attorney Seth DuCharme said. In a short sale, with the approval of the mortgage lender or servicer, a mortgage loan borrower sells his or her property for less than the outstanding balance of the mortgage loan. Lukas Vrbka is an independent reporter and researcher based in Brooklyn. If 25 (emphasis added)). 25). as Ex. Just a case of disgruntled seasoned real-estate investors with big damaged egos.. For the foregoing reasons, the Court denies Herskowitz's motion to dismiss the Indictment. The program requires what's known as an "arm's length transaction," or that the seller and buyer aren't related or affiliated with one another. 1.1 196. 15-CV-611, 2017 WL 237651, at *5 (S.D.N.Y. The buildings were on blocks where all my rich friends lived, recalled one insider who lost $200,000. 1996). Getty Josh Altman of "Million Dollar Listing" poses at a showing. in Supp. He paid a $281,000 settlement in the Florida case and pleaded guilty to a disorderly conduct violation in the second. "An indictment is sufficient if it 'first, contains the elements of the offense charged and fairly informs a defendant of the charge against which he must defend, and, second, enables him to plead an acquittal or conviction in bar of future prosecutions for the same offense."' 1996))). 725 MANAGEMENT LLC. In December 2021, he opened up in a personal essay with Today about his decision to lose weight. In a complaint unsealed today, Aronov, Borovinsky, Konstantinovskiy, and companies that . United States Attorneys Office Do you have a story for The US Sun team? In support, Herskowitz argues that although he is charged in Counts One, Four and Seven as related to the MIP Scheme, the Indictment does not allege that he "participated in the actual arrangements for either the 1219 Jefferson [Avenue] 2403 Dean [Street] sales, which the Indictment makes clear were done exclusively by co-Defendants Tarshish, Dafha and Aronov." This Office will Eastern District of New York 28, 28(d), 32, 32(f)), in addition to 177 Lewis Avenue, (id. According to prosecutors, DAlessio was charged with funneling some $58 million money that should have been used for renovations through a network of more than 200 bank accounts. The act also permits the government to intervene in such actions, as the government has done in this case. Iskyo Aronov (also known as "Isaac Aronov") Middle Village, New York, Ron Borovinsky, Hollis Hills, New York and Michael Konstantinovskiy, Roslyn Heights, New York have been charged in a wide-ranging mortgage fraud scheme to defraud the government. MICHAEL KONSTANTIOVSKI Roslyn Heights, New York. Many of the affected mortgage loans were insured by the Federal Housing Administration, or owned or guaranteed by Fannie Mae or Freddie Mac. 2012))). Middle Village, New York, MICHAEL KONSTANTIOVSKI 465. In contrast, the Indictment alleges that Herskowitz assisted in the MIP Scheme and includes particularized allegations regarding his involvement in the short sale transaction to purchase 1219 Jefferson Avenue and 2403 Dean Street to support this broader allegation. Realtors List thanks to the incredible $237 million he made in sales this year. As alleged in the complaint, from at least 2013 through 2016, the defendants defrauded HUD by manipulating the short sale process to acquire residential properties from numerous distressed homeowners for below-fair market value prices in non-arms-length transactions. ) or https:// means youve safely connected to the .gov website. Our daily newsletter is FREE and keeps you up to date with the world of mortgage. (Id.) ), The Government argues that the Indictment is sufficient to put Herskowitz on notice as to the crimes charged in conjunction with his alleged involvement in the Exclusive Homes Scheme, including that he "wired funds to [the loan servicer in order to] complete three of the fraudulent short sale examples described in the Indictment," and "that the loan servicer, in violation of the short sale conditions it had imposed, was not told of the actual purchase price or the amounts paid to the Short Sale Co-Conspirators." ) or https:// means youve safely connected to the .gov website. See which Bravo real estate agents are returning for more high-stakes drama in the newly released season 14 trailer. of Def. If homeowners were defrauded or lost equity, they could file a petition in the forfeiture proceeding to be made whole. Odabi and his co-conspirators callously abused the trust of an elderly victim to line their pockets with millions in stolen cash, stated United States Attorney Peace. And those deals looked solid by association. The Brooklyn Daily Eagle and brooklyneagle.com cover Brooklyn 24/7 online and five days a week in print with the motto, All Brooklyn All the Time. With a history dating back to 1841, the Eagle is New York Citys only daily devoted exclusively to Brooklyn. Bedford Would Lose 41 Parking Spots In New Protected Bike Lane Plan, Bed-Stuy Fire That Killed Mom, 2 Girls Started In Kitchen: FDNY, Take better care of your bones Join HSS for a new webinar on 5/3, Office Share Near Grand Central- 1 to 4 days a week. Brooklyn, New York, John Marzulli f 12. " 18 U.S.C. In the mortgage scam, the men, under a company called My Ideal Property Group, manipulated the short sale so they were controlling almost every step of the process, prosecutors said. But the checks arrived like clockwork even as it seemed too good to be true. NOTICE OF FILING OF OFFICIAL TRANSCRIPT of Proceedings as to Iskyo Aronov, Michael Konstantinovskiy, Tomer Dafna, Avraham Tarshish, Michael Herskowitz held on October 2, 2019, before Judge Margo K. Brodie. According to court documents, DAlessios internet search history from this time included the phrase which country is the best to hide money from US.. Jan. 18, 2017))). To the extent Herskowitz seeks to challenge the truth of the allegations in the Indictment or the sufficiency of the Government's evidence, this presents a factual question that cannot be decided on a motion to dismiss. 1349 and 3551 et seq. It seemed like the interest payments would mitigate profits.. According to the indictment, between December 2012 and January 2019, the defendants conspired to defraud mortgage lenders, misleading them into approving short sale transactions at fraudulently depressed prices. Thus, the Indictment provides a non-exhaustive list of Defendants allegedly involved in the MIP Scheme, see United States v. Stavroulakis, 952 F.2d 686, 693 (2d Cir. The Government is not required in the Indictment to present the evidence through which it will prove Herskowitz knowingly conspired to facilitate the MIP Scheme when he assisted in the relevant short sale transactions. In October 2020, the mother of two sold a waterfront property in Laguna Beach for $14.25 million. Further, with respect to 1219 Jefferson Avenue, "the only mention of [him] is that he participated in the closing by wiring the loan payoff amount to the servicer's bank account," (id. Aronov Insurance also offers personal insurance lines that include coverage for home, renter, auto and life. . 3, Docket Entry No. Love Brooklyn? 183.). Neither Aronovs attorney nor those for the three other defendants, Michael Konstantinovskiy, Tomer Dafna, and Avraham Tarshish, replied to requests for comment. Aronov appeared in court in Miami and his bond was set at $500,000, according to court papers. ), Herskowitz argues that Counts Two, Four, Six and Seven should be dismissed because the factual allegations do not support his involvement in the Exclusive Homes Scheme. I need the fking money! recalled the insider. The New York Post reported last month that his firm scored its first (multi) million-dollar listing: 355 Ocean Boulevard, the largest single-family oceanfront property in Miami. Returning for season 13 are powerhouse agents: Josh Flagg, Josh Altman, Tracy Tutor, James Harris and David Parnes. Title 18, United States Code, Section 1343 imposes criminal liability on any party who "having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire in interstate or foreign commerce, any writings for the purpose of executing such scheme or artifice." ("Def. Fed. The Indictment alleges that Herskowitz engaged in conspiracies to defraud lenders and certain borrowers (collectively, the "Short Sale Victims") "by providing them with false, misleading, and incomplete information to induce them to execute short sales at fraudulently depressed prices, causing losses to the lenders and, at times, the borrowers" (the "Short Sale Schemes"). We are always seeking enthusiastic team members to help enhance and enlarge our content for and about Brooklyn. The homes sold through the scam include nine in Brooklyn including three in Bed-Stuy and two in Bushwick and one in Queens Village, documents show. This season of Bravo's "Million Dollar Listing New York" premiers May 6, and it is going to show 43-year-old Eklund under more stress than ever as he brokers New York real estate sales from . 's Mot.,, Docket Entry No. Borovinsky identified himself as a co-founder with Aronov of My Ideal Property. This allowed them to buy the properties for below-fair market value prices, obtain broker fees, and induce lenders to release the FHA-insured mortgages at a loss. Before pleading guilty to embezzling $58 million, real estate developer Michael DAlessio was the portrait of generosity. ATL. U.S. Attorney's Office, Eastern District of New York, Real Estate Professionals Allegedly Conspired to Purchase Real Estate at Fraudulently Depressed Short Sale Prices, Costing Mortgage Loan Holders Millions of Dollars, Five Defendants Indicted in Mortgage Fraud Scheme, Georgia Man Indicted for Scheme to Defraud Elderly Suffolk County Victim of More Than $5 Million, Member of 5-9 Brims Gang Convicted of Brooklyn Murder, Former Investment Banker and Registered Broker Charged with Operating Cryptocurrency Investment Fraud Scheme. of Def. MARGO K. BRODIE, UNITED STATES DISTRICT JUDGE, On April 29, 2019, a grand jury returned an indictment against Defendants Iskyo Aronov, Michael Konstantinovskiy, Tomer Dafna, Avraham Tarshish, and Michael Herskowitz, charging them with conspiracy to commit wire and bank fraud in violation of 18 U.S.C. Aronov appeared in court in Miami and his bond was set at $500,000, according to court papers. I felt bad for him, said the real estate pro. (Def. Many of these homes were located in economically challenged areas of New York where affordable housing is at a premium..
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