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Resource ID: #18797
Subject: Housing
Source: Newsday (New York)
Affiliation: 
Date: June 24, July 5, 11, Aug. 9, Nov. 26, 29, Dec. 4

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Description

Newsday looks at a housing scam in Suffolk County, involving predatory lending practices. The investigation reports a complex mortgage fraud scheme orchestrated by Isaac Toussie and his father Robert Toussie, and reveals that the HUD department has filed felony charges against Toussie and 19 others. "Toussie worked in concert with real estate attorneys, mortgage bankers and appraisers to enrich himself by selling overpriced homes to unexperienced first-time buyers, mostly minorities from the city," Newsday reports. The articles also expose the close business ties between the one of the developers and the top county real estate official.

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