The office of New York State Attorney General Eric T. Schneiderman has announced that Fedlaire Aristide of Freeport, N.Y. has been arrested in an alleged short sale fraud.
According to the indicment, Aristide is alleged to have submitted or assisted in the submission of documents that were forged and contained fraudulent information to Wells Fargo for the purposes of purchasing a home in Brooklyn at under-market value. He was also charged with taking thousands of dollars from a Brooklyn couple towards the purchase of that home. Aristide would have made a quick profit by “flopping” the home to the couple if the bank had approved the short sale. He refused to return their money when Wells Fargo rejected the sale.
“We have zero tolerance for anyone who steals from hard-working New Yorkers, especially those who use the promise of homeownership to do so,” said AG Schneiderman. “My office will continue to pursue justice against anyone who attempts to profit from mortgage fraud.”
Read the original story in National Mortgage Professional.