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Resource ID: #22953
Subject: Real Estate
Source: Asbury Park Press (Neptune, N.J.)
Affiliation: 
Date: 08/20/2006; 08/21/2006; 08/22/2006; 08/23/2006; 08/24/

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Description

Spurred by real estate mogul Solomon Dwek bouncing a $25 million check at a drive-through bank window, the Asbury Park Press investigates Dwek's dealings, and finds that his business may not be as financially stable as it is presented to be. The Press found that Dwek committed mortgage fraud, as forensic experts analyzed signatures on land records, and said Dwek "likely signed the names of other people to $9 million in loans he obtained." His wife had mortgages on three properties she did not own. Dwek, who was arrested by the FBI in the wake of the bounced check, was also found to have received $179 million in loans and investments from banks, mortgage lenders and investors.

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