Sparta Realtor Defrauded Bank, Prosecutor Says

By investor90   Follow   Wed, 30 Jan 2013, 8:28pm   534 views   3 comments
In Menlo Park CA 94025   Watch (1)   Share   Quote   Permalink   Like (1)   Dislike

A Sparta resident and real estate agent has been arrested and charged with multiple crimes after allegedly aiding others in fraudulent home deed-changing schemes, Bergen County Prosecutor John Molinelli said.

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  1. investor90

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    14 threads
    Beverly Hills, CA

    1   8:29pm Wed 30 Jan 2013   Share   Quote   Permalink   Like   Dislike  

    No surprise here

  2. mondoqt

    1 threads
    Albany, NY
    mondoqt's website

    2   10:02am Fri 1 Feb 2013   Share   Quote   Permalink   Like   Dislike  

    Demetris Michalaki, one of the crooks cited in this article, has an extensive history of mortgage fraud. He also goes by the name of Dimitri or Jimmy Michalaki. His assorted companies (D&M Financial, D&M Mortgage, etc.) were players in New York and New Jersey during the housing bubble years. Michalaki and his affiliates were the target of numerous legal actions by lenders, individuals, and law enforcement agencies. The most notorious D&M connection was to the mortgage frauds perped in New York by Emmanuel "Toto" Constant, the former Haitian death squad leader turned real estate pro.

    Interesting that Michalaki is now a fugitive. Also interesting that he's been up to his old tricks rather than hanging out in a jail cell. Interesting, but not surprising...

  3. perry


    3   6:21pm Wed 6 Mar 2013   Share   Quote   Permalink   Like   Dislike  

    How do you know that Demetri is a fugative...I'm looking for any info on him...I've done my searches yet nothing shows that he's a fugitive.

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