Real Estate & Property Law
Bank Sues Embattled N.Y. Lawyer Alleging $1.8M Mortgage Fraud
Posted Feb 20, 2009 5:29 PM CST
By Martha Neil
Wachovia Federal Savings Bank filed suit yesterday against a 57-year-old New York attorney, contending that he pocketed $1.8 million as part of an alleged mortgage fraud scheme concerning his deceased father's former home in the Hamptons.
George Guldi, who is a former Suffolk State Legislator, and a co-defendant allegedly misled the bank into believing that it was granting a mortgage to the co-defendant to purchase a home worth $3.5 million from Guldi, according to the Southampton Press.
Guldi's counsel didn't respond to the newspaper's requests for comment, but “If someone gave me $1.8 million, I would have remembered it,” Guldi told the Southampton Press this afternoon, declining to comment further.
The litigation was filed in Suffolk County Supreme Court in Riverhead.
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Comments
B. McLeod
Feb 20, 2009 7:55 PM CST
Great story. More idiocy by Wachovia. What kind of a moron pays out on a $1.8 million loan that is supposed to be secured by a mortgage, without checking to see if the mortgagor has title to the property? Oh, wait—I guess that would be Wachovia. Yes, Wachovia - the same rocket scientists who bought Golden West from the Sandlers. Then, it makes you wonder why Wachovia thinks Guldi has the money. Maybe the fellow they gave the money to (the one who gave them a mortgage with no title behind it) SAYS he gave the money to Guldi. Well now, why would anyone doubt him? One thing is certain, and that is that Wells Fargo will rue the day it bought the flipping playhouse that is Wachovia and left the same old imbeciles in charge.
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OMG - I know this guy!
Feb 21, 2009 3:04 PM CST
I know this guy. He was in my law school class. I suppose the pressure got to him. The ABA should give this guy a break. He is not as bad as half the legal whores who don’t get any coverage.
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