Related Federal Cases
$17M Real Estate Scam Exposed
Manhattan U.S. Attorney Preet Bharara and FDIC Office of Inspector General Special Agent-in-Charge Patricia Tarasca announced the unsealing of an indictment charging Issak Almaleh, a/k/a “Issak Izrael,” and Antoaneta Iotova with conspiracy to commit bank fraud, bank fraud, wire fraud, and making false statements to the FDIC.
According to the indictment, Almaleh and Iotova allegedly used forged documents to falsely claim ownership of more than $17 million worth of property in New York and Florida. They then used those real estate documents to victimize individuals and tenants.
The indictment alleges that Almaleh and Iotova filed fraudulent and forged property deeds purporting to transfer ownership of more than 40 real properties, with a combined estimated market value in excess of $17 million, to entities controlled by Almaleh and Iotova.
Almaleh, a commissioned notary, would notarize the documents as genuinely signed by representatives of the financial institutions, while Iotova would sign the documents on behalf of the entities controlled by the defendants.
As a result of their scheme, at least one victim was wrongfully evicted from their home, and others were forced to sign leases and pay deposits to the defendants for homes they did not actually own.
Almaleh and Iotova were arrested today in Hollywood, Florida, and will be presented later today in federal court in Fort Lauderdale, Florida.
Chief U.S. District Judge Colleen McMahon is presiding over the case.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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