The Real Deal New York

Mortgage firm owner admits to stealing $44M from Fannie

September 12, 2008 08:25AM

A former owner of a Brooklyn mortgage firm admitted to stealing $44 million from Fannie Mae between 1994 and 2004. Leib Pinter, 64, pleaded guilty to conspiracy to commit wire fraud and will face a 10-year sentence when he is due back in Brooklyn Federal Court on Dec. 19. Pinter was the owner of Olympia Mortgage Corp., and admitted to pocketing the payoff proceeds for 257 mortgages that his company serviced for Fannie.

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