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Real Estate & Property Law

: The Home Equity Theft Reporter

Brooklyn Jury Convicts Condo Developer Of Failing To Deliver Title To Buyers, Then Using Deeds As Collateral To Pocket Proceeds From Subsequent Loans

By r morris

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In Brooklyn, New York, the Daily News reports:A ambitious [sic] Brooklyn developer was found guilty Tuesday of stealing more than $18 million from dozens of Hasidic families and several banks in a massive subprime mortgage scam. Eliyahu Ezagui, 39, preyed on his fellow congregants, sold them condominiums but never gave them the deeds when construction was finished. Instead, he gave the deeds to

Full post as published by The Home Equity Theft Reporter on February 22, 2010 (boomark / email).

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