The complaint alleges that the defendants Iskyo Aronov, Ron Borovinsky and Michael Konstantinovskiy ran a wide-ranging mortgage scheme to defraud the Federal Housing Administration (FHA) of the US Department of Housing and Urban Development (HUD). New York Citys most populous borough, Brooklyn, is home to nearly 2.6 million residents. Finally, the Court rejects Herskowitz's argument that Count One should be dismissed because he is not consistently identified as "one of those involved in the MIP Scheme." 2012))). The Government is not required in the Indictment to present the evidence through which it will prove Herskowitz knowingly conspired to facilitate the MIP Scheme when he assisted in the relevant short sale transactions. https://brooklyneagle.com/articles/2021/01/06/feds-file-civil-suit-in-brooklyn-in-mortgage-fraud-case/, U.S. District Judge Margo K. Brodie of the Eastern District of New York. Borovinsky identified himself as a co-founder with Aronov of My Ideal Property. On today's episode of Just the Sip, Million Dollar Listing Los Angeles star Tracy Tutor revealed how her reality TV career indirectly played a part in her divorce from Jason Maltas. Sign up for free Patch newsletters and alerts. (See Ind. The complaint, unsealed this afternoon by United States District Judge Margo K. Brodie, alleges that Iskyo Aronov, Ron Borovinsky, Michael Konstantinovskiy, and companies that they owned or controlled, engaged in fraudulent short sales of residential properties insured by the Federal Housing Administration (FHA) of the United States Department . 1970), cert, denied, 402 U.S. 953 (1971)), and there is no express contradiction between the Indictment's broader allegations regarding Herskowitz's involvement in the MIP Scheme and the factual allegations in support of this larger claim. Under HUDs Pre-Foreclosure Sale Program, qualifying homeowners with defaulted, FHA-insured mortgages may sell their properties in a short sale for less than the balance of the mortgage if the sale is for the fair market value of the property. (Id. 2005))); Coffey, 361 F.Supp.2d at 111 ("[T]he validity of an indictment is tested by its allegations, not by whether the Government can prove its case." The four other men were arraigned in Brooklyn. 's Mem. (Id. Aronov and Konstantinovskiywere also charged in 2019. (Id.) \ 19), and specifically alleges that Herskowitz was involved in the purchase of 1219 Jefferson Avenue and 2403 Dean Street, (id. R. Crim. If a homeowner obtains approval for a short sale, the lender releases the mortgage after the short sale and submits an FHA insurance claim to HUD to cover the outstanding mortgage balance net of the short sale proceeds, plus approved costs and interest. The Short Sale Schemes "originated at [My Ideal Property ('MIP')] under the direction of [Aronov] with the assistance of [Konstantinovskiy and Tarshish], Short-Sale Co-Conspirators 1, 2 and 3, and others" (the "MIP Scheme") and the scheme was later replicated by Tarshish and Dafna "at Exclusive Homes with the assistance of Short-Sale Co-Conspirator 2 and others" (the "Exclusive Homes Scheme").
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