Brooklyn paralegal sentenced to three years in connection with a multi-million dollar mortgage scam

TRD New York /
Mar.March 26, 2010 06:49 PM

A Brooklyn paralegal has been sentenced to two concurrent three-year prison sentences in connection with her role in a $200 million mortgage scam, according to the U.S. Attorney for the Southern District of New York, after pleading guilty to charges of mail, wire and bank fraud. From 2004 to 2007, the defendant, Marina Dubin, aided a Brooklyn mortgage firm called AGA Capital NY in a mortgage refinancing scam, in which the company targeted homeowners facing foreclosure, offering to help them save their homes. Because many of the victims had poor credit and were unable to receive traditional refinancing, the firm told the victims to deed their homes over to a third party, promising to return the title within a year, according to U.S. Attorney Preet Bharara. The company ultimately brokered more than 1,000 mortgages before the scheme was discovered. The lenders, combined, have claimed losses of approximately $11.6 million. Dubin is one of 27 defendants in this case — 25 of whom pleaded guilty. Dubin was also sentenced in federal court to three years of supervised released and was ordered to forfeit over $7 million and pay $11.6 million in restitution. TRD

Related Articles

Refinancings spur mortgages to record high

The mortgage industry is booming

From left: 1578 Union Street in Brooklyn, Daniel Melamed (inset) and Eric Schneiderman (Credit: Google Maps, Getty Images, Facebook)

Overzealous investigators went too far in pursuit of Brooklyn landlord, appellate court rules

Some investors continue to find U.S. commercial real estate as attractive places to park their capital (Credit: iStock)

Brexits and Bubbles: How investors view Europe’s shaky real estate market

The bank is accused of systematically trying to foreclose on mortgages after the state’s six-year statute of limitations had passed. (Credit: iStock)

BNY Mellon faces suit over foreclosures from the housing crash

Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

Buyer sentiment was strong at the close of 2019 (Credit: iStock)

Home buyers start 2020 with drop in mortgage rates

(Credit: Getty Images, iStock)

Small Talk: Real Estate Predictions for 2020