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Loan Modification

: Flipping Frenzy

Founder of the Cobalt Companies Sentenced in Manhattan Federal Court to 85 Years in Prison for $23 Million Real Estate Fraud Scheme

By Ralph Roberts

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PREET BHARARA, the United States Attorney for the Southern District of New York, announced that MARK ALAN SHAPIRO, the founder of the Cobalt Companies was sentenced today to 85 years in prison on charges stemming from a fraud that raised more than $23 million from over 250 investors in private placement real estate offerings. SHAPIRO [...]

Full post as published by Flipping Frenzy on October 22, 2010 (boomark / email).

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