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Two Indicted in $17 Million Real Estate Scam
Manhattan U.S. Attorney Preet Bharara announced today that Issak Almaleh, a/k/a Issak Izrael, and Antoaneta Iotova have been charged 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 claim ownership of over $17 million worth of property in New York and Florida. The scheme also led to at least one victim being wrongfully evicted from their home and others signing leases and paying deposits to the defendants for homes they did not actually own.
Almaleh, who was a commissioned notary, notarized the documents as genuinely signed by representatives of financial institutions, while Iotova signed the documents on behalf of the entities controlled by the defendants.
The indictment alleges that Almaleh and Iotova submitted a false application for FDIC insurance and certification in 2015, seeking to have the FDIC certification of an FDIC-insured bank transferred to their control.
The scheme to defraud individuals allegedly began after Almaleh and Iotova filed deeds purporting to transfer ownership of the properties. They used the deeds to victimize other individuals, including a bona fide purchaser who was evicted from their home in Hollywood, Florida.
Almaleh and Iotova were arrested today in Hollywood, Florida, and will be presented later today in federal court in Fort Lauderdale, Florida. The case is assigned to Chief U.S. District Judge Colleen McMahon.
FDIC Special Agent-in-Charge Patricia Tarasca said, “The FDIC Office of Inspector General is committed to investigating allegations of fraudulent activity that threatens to harm FDIC-insured financial institutions.”
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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