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Fraud
Brooklyn D.A. creates real estate fraud unit
From a press release, via email, comes this:
The 12-person unit will investigate deed fraud, mortgage fraud, predatory lending and other real estate-related fraud that has become increasingly prevalent in our current economic crisis.[...]
Many other initiatives have been created recently in order to either prevent victimization or to provide funding for refinancing. While many of these efforts have been worthwhile, none provide for the criminal sanctions necessary to deter would-be criminals. Missing from these initiatives has been a dedicated prosecutorial unit. Prosecutions can result in jail sentences for the offenders and restitution for the victims.
As Senator Schumer said last week, "The Real Estate Fraud Unit is just what Brooklyn needs during the ongoing economic and housing crises."
The money for the new unit will come from a two-year $875,000 earmark - quick, someone call the republicans - inserted in the budget by Senator Schumer.
Brooklyn is apparently the only borough with a dedicated unit on real estate fraud.
There are suicide bombers in blue suits down in Pearl Street
“We had to step in, it was the right thing to do, even though it is infuriating,” Obama said, explaining why the government needed to bail out the troubled banks.
“The same is true with AIG,” he said. “It was the right thing to do to step in. Here’s the problem. It’s almost like they’ve got — they’ve got a bomb strapped to them and they’ve got their hand on the trigger. You don’t want them to blow up. But you’ve got to kind of talk them, ease that finger off the trigger.”
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