All persons are presumed innocent until convicted of a crime. Prosecutors this week said Aronov and his team, which controlled every aspect of the short-selling process, traded on “false, misleading and incomplete” information, lying to the government and to lenders like Fannie Mae and Freddie Mac, failing to disclose unauthorized payments and their business relationships. According to the indictment, between December 2012 and January 2019, the defendants conspired to defraud mortgage lenders, misleading them into approving short sale transactions at fraudulently depressed prices.  In a short sale, with the approval of the mortgage lender or servicer, a mortgage loan borrower sells his or her property for less than the outstanding balance of the mortgage loan.  The proceeds from the short sale, less approved closing costs, are applied to the outstanding mortgage loan balance owed to the lender, who typically agrees to forgive the borrower’s remaining mortgage loan balance.  Here, the defendants fraudulently manipulated the short sale process by transferring properties for prices well above the short sale prices, and failing to disclose this to the mortgage lenders and servicers.  The defendants also took steps to preclude other prospective purchasers from making higher offers for properties by failing to market properties as required by the lenders, and by filing fraudulent liens on properties. Aronov was arrested in Florida, and will appear this afternoon for a removal hearing at the federal courthouse in Miami. BuzzFeed News found at least 12 lawsuits in which borrowers said they had been deceived by the group. That gave the investors leverage to pay less, because no one else could buy the house — but this left some homeowners, like Denise Riera of the Bronx, on the hook for mortgages to homes they no longer owned. WELCOME TO ARONOV REALTY. Other family members and associates include Eduard Aranov, Julia Aronov, Yakov Aronov, Eliyahu Aronov and Jafim Aronov. Founded in 1952 by Aaron Aronov, Aronov Realty is one of the oldest real estate development and management firms in the United States, and is the largest privately held, full-service real estate company in the Southeast. The partners negotiated with banks to let the property go for far less than market rate, a … Age:  33 Five real estate investors whose business was the subject of a major BuzzFeed News investigation were arrested this week for allegedly defrauding lenders and taxpayers out of millions of dollars in a scheme that targeted New Yorkers at risk of foreclosure. The Question is: Will Lakewood’s New Attorney Hire, at Well Over $600K per Year, Save the District Money Overall? MIP marketed itself as a real estate development company that was focused on rehabilitating distressed properties. “As alleged, the defendants defrauded mortgage loan holders out of millions of dollars, with taxpayers saddled with much of the loss,” stated United States Attorney Donoghue.  “This Office will continue working with our law enforcement partners to vigorously prosecute those who commit mortgage fraud and enrich themselves at the expense of the financial institutions and government programs that insure or guarantee the loans.”  Mr. Donoghue thanked the United States Department of Homeland Security, Homeland Security Investigations, New York Field Office (HSI), the HSI El Dorado Financial Crimes Task Force and the Internal Revenue Service, Criminal Investigation, New York, for their assistance in the ongoing investigation. Miami, Florida, Michael Konstantinovskiy (also known as “Michael Kay”) Rego Park, Queens, Tomer Dafna Aronov isthe president ofLL Organization. In some cases, homeowners said the investors got them to sign over the deeds to their homes before the sales went through, claiming it was a normal part of the short-sale process. Neither Aronov’s attorney nor those for the three other defendants, Michael Konstantinovskiy, Tomer Dafna, and Avraham Tarshish, replied to requests for comment. ( Log Out /  Amid the lingering effects of the mortgage crisis, Iskyo “Isaac” Aronov and his four partners located homeowners in rapidly gentrifying neighborhoods who owed more than they could pay. – Zali – Satmar Pronouncement, Esformes - Convicted of one of the Largest Healthcare Frauds in History Gets Sentence Commuted. ORA – Organization for Resolution of Agunot. Aronov Realty. Named in the indictment are Iskyo Aronov of Miami; Tomer Dafna, who lives in Great Neck, N.Y.; and three New York City residents: Michael Herskowitz, Michael Konstantinovskiy and Avraham Tarshish. Queens Village, New York, Michael Herskowitz Sorry, your blog cannot share posts by email. The contract was executed in four parts: the I printed contract andt*ee separate riders thatwere incorporated into the agreement andthe contract amount was $687,000. ISKYO ARONOV formed MIP on or about December 5, 2012. 11 records for Aron Aronov. This site uses Akismet to reduce spam. Discover your next home and get detailed real estate info,view photos & listings. Our experience, proven results and advanced training allows Aronov agents to continually lead the market. Change ), You are commenting using your Google account. Aronov has brought the best of quality living to communities throughout the Southeast. Our experience, proven results and advanced training allows Aronov agents to continually lead the market. The Victims of a Jew Behaving Badly - How Many more Must Suffer Before we collectively say, "Maspik"? Then, with the original owners gone, the partners performed fast gut renovations, installing modern fixtures and marble counters, and resold the homes for north of a million dollars. Lake Martin Real Estate /Aronov Realty Brokerage Inc/Lake Martin Division/ TOP PRODUCER Lynda Schmidt, REALTOR Accredited Buyer Representative, Certified Residential Specialist

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