Two Queens, N.Y., lawyers have been charged with participating in a $3 million real-estate fraud ring. Trevor Rupnarain and Shawn Chand, both Richmond Hill, N.Y., solo practitioners, were among 17 defendants charged by the Queens District Attorney’s Office with defrauding lenders and homeowners in a variety of fraudulent transactions involving 26 refinanced residential properties.
In some cases, the conspiracy’s ringleaders allegedly convinced distressed homeowners in Queens, Brooklyn and the Bronx to put the title to their homes in the names of straw buyers for one year, during which the defendants promised to improve their credit ratings and obtain more favorable mortgages before returning the title. Instead, the group’s leaders held the funds in escrow in order to siphon the proceeds.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]