The Real Deal New York

Brooklyn developer, 14 others charged with mortgage scam

U.S. Attorney claims Irving Rubin and family members cheated banks, took public assistance

Brooklyn real estate developer Irving Rubin and several of his family members were charged with defrauding banks and other lenders of $20 million over a decade.

The U.S. Attorney’s office accused 15 people yesterday of obtaining millions from more than 20 fraudulent bank loans and accepting thousands in public assistance. The defendants allegedly claimed in public-assistance applications that they had very little income. 

Meanwhile, their bank-loan documents show extensive assets and income.

“We are digesting the information contained in the rather extensive indictment that was filed. It’s much too early to make any kind of a comment,” George Farkas, Irving Rubin’s attorney, told the Wall Street Journal. [WSJ]Mark Maurer

  • Steven Covexx

    We all love them and know that a contribution to Bilary, will mean 4 weeks at a Country Club in Boca Raton as punishment.