Sparta Realtor Defrauded Bank, Prosecutor Says

By investor90   Follow   Wed, 30 Jan 2013, 12:28pm PST   922 views   3 comments   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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investor90   befriend   ignore   Wed, 30 Jan 2013, 12:29pm PST   Share   Quote   Like   Dislike     Comment 1

No surprise here

mondoqt   befriend   ignore   Fri, 1 Feb 2013, 2:02am PST   Share   Quote   Like   Dislike     Comment 2

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...

perry   befriend   ignore   Wed, 6 Mar 2013, 10:21am PST   Share   Quote   Like (1)   Dislike     Comment 3

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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