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Posted on 08/22/2026 6:31:28 PM PDT by Libloather
A New Jersey real estate investor pleaded guilty earlier this week to participating in a multimillion-dollar mortgage fraud scheme and fraudulently obtaining more than $1.8 million in COVID-19 relief loans, according to U.S. Attorney Robert Frazer.
Officials said 39-year-old Arthur Spitzer, of Toms River, pleaded guilty Wednesday to one count of bank and wire fraud conspiracy and one count of money laundering in connection with the fraud schemes.
According to prosecutors, who cited court documents and statements made in court, in June 2020, Spitzer conspired with Mendel Deutsch and Joshua Feldberger, who are both awaiting sentencing, to make it appear as though Spitzer owned three properties in Brooklyn, New York, and had agreed to sell them to Deutsch, who obtained a $4.5 million mortgage loan in connection with the transaction.
Prosecutors said Feldberger facilitated the fraudulent transaction as the owner of the settlement company that handled it.
According to officials, the defendants also created and sent letters stating that Deutsch had deposited significant funds into escrow toward the transaction when, in reality, he had not. Instead, they created fake documentation purportedly transferring control of the properties to Spitzer and made false statements to the mortgage lender, claiming that the settlement company had received more than $2 million from Deutsch at closing. Those statements led the mortgage lender to fund the loan.
The men then used the mortgage loan proceeds to fund Deutsch’s down payment, which he had supposedly already provided, prosecutors said.
According to officials, Spitzer also admitted that he was responsible for the losses resulting from five additional fraudulent loan schemes in 2019 and 2020, totaling more than $10 million.
(Excerpt) Read more at nbcnewyork.com ...
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Some more -
Memorial Villages residents lose more than $250,000 in fraud cases in a week, police say
https://www.yahoo.com/news/articles/memorial-villages-residents-lose-more-140934263.html
Even more -
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Klobuchar’s fraud fight claim takes hit after GOP opponent combs through receipts: ‘Where were you?’
Georgia fugitive arrested in Florida, held for extradition on fraud charges
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Dallas-area man, Chicago woman accused in $11 million pandemic relief fraud scheme
https://www.yahoo.com/news/us/articles/dallas-area-man-chicago-woman-184655891.html
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