Say They Bought Woman's Home From Under Her In Loan Scheme

More than $1 million in fraudulent loans were reportedly obtained by a group of nine indicted in a mortgage fraud scheme which left homes in Bushwick and Richmond Hill in default and an elderly Jamaica woman in foreclosure, it was announced last Tuesday, Nov. 18.

Reportedly, the nine suspects— including a high-ranking court employee from Brooklyn—conspired together to steal personal information and produce fake documentation to secure hundreds of thousands of dollars in loans from two financial institutions to buy and sell the three properties.

In one case, noted Queens District Attorney Richard A. Brown, the alleged conspirators bought a Jamaica home owned by a 74-yearold woman without her knowledge, going as far as to hire an individual posing as her late husband to appear at the closing proceedings.

The district attorney said the woman, who had owned the proper- ty with nothing owed, now faced foreclosure after the buyers failed to make their payments.

"This complicated and devious scheme allegedly involved defendants who were so greedy that they bought and sold three properties in just over eight days," Brown said in a statement. "Their alleged actions left a Jamaica woman—whose house was owned free and clear— facing foreclosure and a New Jersey woman—whose identity was stolen—fighting off banks seeking payment of mortgages fraudulently taken out in her name."

The individuals charged in the indictment are:

• John D'Emic, 59, of 72nd Street in Bay Ridge, an attorney who also serves as Chief Deputy County Clerk in Brooklyn;

• Norman Barabash, 63, of Elkmont Avenue in Bellerose, a certified public accountant with a home office;

• Shamim (a.k.a. Sam) Choudhury, 35, of Union Hall Street in Jamaica, an alleged real estate investor;

• Gulam (a.k.a. Zack) Chowdhury, 22, of Pacific Avenue in Lawrence, L.I., the owner of Famous RE Construction and Development, Inc., real estate company located at 106-09 Guy R. Brewer Blvd. in Jamaica;

• Daisy Guzman-Saavedra, 38, of Walter Road in upstate Yorktown Heights, self-employed owner of EB Ventures and Property Management as well as DAT Brokerage Inc. insurance company located at 650 Soundview Ave. in the Bronx;

• Nazrul Islam, 23, of Highland Avenue in Jamaica, a worker at his family's grocery store and owner of Hevens Corporation located at 168- 25 Hillside Ave. in Jamaica;

• Alan Morris, 58, of Celler Avenue in New Hyde Park, L.I., a disbarred attorney employed with John Weber and Associates, P.C., with offices in Babylon and Brooklyn;

• Boris Nektalov, 23, of 77th Road in Flushing, a mortgage broker who worked for Funding Unlimited at 95-20 63rd Rd. in Rego Park at the time of the alleged crime; and,

• Rajendar (a.k.a. Rommel) Persaud, 35, of Cooper Drive Extension in upstate Verbank, owner of RP Liberty Corporation.

Sold out from under her

District Attorney Brown noted that the probe began in November 2007 when a 74-year-old Jamaica woman informed the D.A.'s Elder Fraud Unit that her Union Hall Street home was sold two months earlier without her knowledge and was in the midst of foreclosure.

Reportedly, the woman learned of the sale after receiving mail in the name of an individual regarding the recent purchase of the dwelling as well as the foreclosure proceedings.

In the course of their investigation, prosecutors said, it was determined that the loan on the home was taken out by the group of indicted suspects, who had also applied for, and received, mortgages for homes on 107th Avenue in Richmond Hill and on Schaeffer Street in Bushwick.

According to the charges, the defendants allegedly recruited a man who posed as the 74-year-old woman's dead husband to appear at the closing. The victim's house was still in the name of her late spouse, who died in 1986.

A straw buyer allegedly purchased the Jamaica home and secured a mortgage from Wells Fargo bank in the amount of $490,500.

The indictment further charges that the group of suspects also collaborated to steal the personal information of two individuals—a resident alien who has since left the United States and a New Jersey woman—for the purpose of securing mortgages to purchase the Richmond Hill and Bushwick properties.

Reportedly, the stolen identities were forged onto deeds and mortgages that were eventually filed with the city. At present, the loans for both homes are in default.

Law enforcement sources said the ring secured a $533,850 mortgage from JPMorganChase for the Richmond Hill home and a $417,000 loan from Chase for the Bushwick location.

Roles in the ring

According to the district attorney, Shamim Choudhury allegedly recruited the straw buyer who posed as the Jamaica victim's late husband and provided him with false identification. The fake ID was reportedly obtained the suspect's cousin, Gulam Chowdhury, and used in the closing proceedings for the Jamaica and Richmond Hill properties.

Prosecutors noted that Guzman- Saavedra used her companies as the fake employment and residence reference for the straw buyers on their loan applications. Additionally, it is alleged that she received payments from mortgages received by the ring and laundered other proceeds to codefendants Islam and Persaud.

Authorities said that Islam allegedly used his company as an employment reference on one of the loan applications and agreed to use his personal residence and business information to falsify other loan applications. Reportedly, he verified the information to the lenders when representatives of the financial institutions called to confirm.

Law enforcement sources said Persaud also provided stolen identification information and laundered proceeds through Guzman- Saavedra's financial companies. Reportedly, he also bought and sold the Schaefer Street property to a straw buyer.

In his capacity as an accountant, law enforcement sources said, Barabash allegedly issued a letter in the name of a straw buyer stating that he had prepared the individual's tax returns over the previous five years. Prosecutors said he produced other false letters which were submitted with loan applications.

While working for Funding Unlimited as a mortgage broker, it was reported, Nektalov prepared and submitted the false loan applications for each of the mortgages.

According to the charges, D'Emic—who was appointed in January as the Chief Deputy County Clerk in Brooklyn—allegedly acted as an attorney for either the buyer or seller on each transaction and provided false letters regarding instructions for the disbursement of all mortgage proceeds.

As for Morris, the district attorney noted that the disbarred barrister allegedly handled all closings in the caper, serving as the bank's attorney on each mortgage. In receiving additional funds from D'Emic, the suspect reportedly prepared and submitted to the companies false letters relating to the distribution of all loan proceeds.

Reportedly, all those directly involved in the mortgage fraud scheme received payments and proceeds from the loans they secured.

The nine individuals were variously charged with first- and second degree grand larceny, seconddegree criminal possession of stolen property, first-degree identity theft, second-degree criminal possession of a forged instrument, first- and second-degree falsifying business records, first-degree offering a false instrument for filing, fourth- and fifth-degree conspiracy, first- and second-degree scheme to defraud and fourth-degree money laundering.

If convicted, they each face prison terms ranging from four to 25 years.

The case was investigated by Det. Patrick Dolan of the D.A.'s Detective Bureau under the supervision of Lt. Robert Burke. The bureau is supervised by Chief Investigator Lawrence J. Festa and Deputy Chief Investigator Albert D. Velardi.

Prosecuting the case are Assistant District Attorneys Lauren D. Steele and Kristen A. Kane of the Elder Fraud Unit, under the supervision of Assistant District Attorneys Gregory Pavlides, bureau chief of the Economic Crimes Bureau, and Christina Hanophy, deputy bureau chief.