Left to right: Senator Charles Schumer, Manhattan DA Robert Morgenthau, Brooklyn DA Charles Hynes
All five
New York City district attorneys and U.S. Senator Charles Schumer
announced new legislation today that aims to crack down on a flood of
mortgage scams by creating mortgage fraud units in DA’s offices across
the country. Prosecutors nationwide are seeing an increase in
mortgage fraud cases, but don’t have resources available locally to
fight the crimes, Schumer said. The Fighting Real Estate Fraud Act
would authorize $100 million in grants for hiring a staff of
investigators, forensic accountants and attorneys for local DA offices
that need increased resources for mortgage scams.