September 17, 2021

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Mortgage News

2 NY Men Charged In Hartford Mortgage Fraud: Feds

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HARTFORD, CT – Acting United States attorney for the Connecticut District, Leonard C Boyle, charges two New York men in connection with a Hartford home mortgage fraud program.

Jacob Deutsch, 56, of Brooklyn, NY, and Aron Deutsch, 60, of Monsey, NY, were recently charged with conspiracy, fraud, and false testimony violations.

According to prosecutors, the two men worked for BH Property Management, a company that manages several apartment buildings in Hartford.

In April 2017, the Germans and others used a company to purchase two Hartford properties, 16 Evergreen Avenue, a residential property with 24 units, and 53 Evergreen Avenue, a residential property with 12 units, for a total of around $ 1.8 million.

The Germans are accused of defrauding a mortgage company and Freddie Mac when applying for a mortgage loan to refinance the purchase of the two properties. The loan application file contained numerous inaccurate information about 16 Evergreen Avenue occupancy and operating results.

For example, a summary submitted by Jacob Deutsch in June 2018 incorrectly stated that 16 Evergreen Avenue was 100 percent occupied when, according to the prosecutor, not a single tenant lived there at the time.

Because of this misrepresentation, CBRE signed a $ 2.178 million Freddie Mac Small Balance loan backed by the two properties in August 2018 and immediately sold that loan to Freddie Mac upon closing.

Jacob and Aron Deutsch are charged with criminal charges of conspiracy to have provided postal and wire fraud, wire fraud, postal fraud and false information. After a court appearance, Jacob Deutsch was released for a $ 50,000 bond and Aron Deutsch for a $ 100,000 bond.

To request removal of your name from an arrest report, submit these required items to [email protected].

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