Alleged fraudsters arrested for $17M property scheme

Miami /
Jan.January 26, 2017 02:15 PM

Two Hollywood residents accused in a bank fraud scheme of falsely claiming ownership of $17 million worth of property in Florida and New York were arrested Wednesday in Hollywood.

The indictment charged Issak Almaleh and Antoaneta Iotova with fraud, conspiracy, and making false statements to the Federal Deposit Insurance Corp., among others.

Almaleh and Iotova allegedly forged documents to claim ownership of several properties in Florida and New York that were in foreclosure, owned by banks insured by the FDIC, according to authorities, then used those documents to victimize residents and tenants, the Sun Sentinel reported.

Almaleh, who previously worked as a notary, notarized ownership documents as though they were genuine. Iotova signed the documents on behalf of the companies they controlled: New York Sport Foundation, New York Mortgage Corp. and Women in International Relations, authorities said.

Almaleh and Iotova successfully evicted a Hollywood resident temporarily, enlisting help from police in 2015, federal officials said, even changing locks on the property. In Hallandale Beach, the pair allegedly used forged documents to trick two people into signing leases and putting down cash deposits, just two days before the tenants were informed by the bank that their lease agreements were not valid.  [Sun Sentinel] — Gabrielle Paluch


Related Articles

arrow_forward_ios
Rendering of Plantation apartments with PGIM's Eric Adler and Stiles Corp's Ken Stiles (Stiles)
Stiles, PGIM buy Plantation multifamily dev site from synagogue, score $64M financing
Stiles, PGIM buy Plantation multifamily dev site from synagogue, score $64M financing
Ram Realty CEO Casey Cummings and the development site at 670 East Oakland Park Boulevard (Google Maps)
Ram Realty scores $56M construction loan for Oakland Park mixed-use multifamily project with Sprouts Farmers Market
Ram Realty scores $56M construction loan for Oakland Park mixed-use multifamily project with Sprouts Farmers Market
(iStock)
South Florida construction starts fall in January
South Florida construction starts fall in January
Parc Station
Out-of-state multifamily buyers eye South Florida
Out-of-state multifamily buyers eye South Florida
(iStock)
South Florida construction starts rise in December, end the year down 25%
South Florida construction starts rise in December, end the year down 25%
Cortland Partners CEO Steven DeFrancis and 1900 to 2300 North 29th Avenue, Hollywood (Google Maps)
Cortland pays $92M for Hollywood apartment complex
Cortland pays $92M for Hollywood apartment complex
South Florida contracts increase through the end of 2020. (Getty)
Signed resi contracts up in South Florida in December
Signed resi contracts up in South Florida in December
500 Oleander Drive (Douglas Elliman)
Canadian entertainment agency CEO pays record $5M for Hallandale Beach home
Canadian entertainment agency CEO pays record $5M for Hallandale Beach home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...