{"id":58677,"date":"2025-04-01T15:25:58","date_gmt":"2025-04-01T22:25:58","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=58677"},"modified":"2025-04-01T15:25:58","modified_gmt":"2025-04-01T22:25:58","slug":"four-real-estate-investors-sentenced-in-multi-million-dollar-loan-fraud-scheme","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=58677","title":{"rendered":"Four Real Estate Investors Sentenced in Multi-Million-Dollar Loan Fraud Scheme"},"content":{"rendered":"
\"FBI
FBI Photo Image<\/figcaption><\/figure>\n

\"\"Officials stated that four real estate investors were sentenced for their roles in a multi-year conspiracy to fraudulently secure multimillion-dollar loans on commercial and multifamily properties.<\/span><\/p>\n

Aron Puretz, 53,<\/strong> and his son, Chaim \u201cEli\u201d Puretz, 29,<\/strong> both of New Jersey, were sentenced to 60 and 24 months in prison, respectively, for wire fraud affecting a financial institution. <\/span><\/p>\n

Aaron Puretz was ordered to pay over $22 million<\/strong> in restitution, while Eli Puretz must pay $20 million<\/strong>.<\/span><\/p>\n

In 2020, the Puretzes purchased Troy Technology Park in Troy, Michigan, for $42 million<\/strong>, then fraudulently sold it to a co-conspirator for $70 million<\/strong> using falsified documents. The lender, deceived by the inflated price, approved a $45 million<\/strong> loan. A simultaneous closing orchestrated by a New Jersey title company concealed the fraud.<\/span><\/p>\n

\"WestMoshe \u201cMark\u201d Silber, 34,<\/strong> and Fredrick Schulman, 72,<\/strong> both of New York, were sentenced to 30 months and 12 months and a day, respectively, for a similar scheme involving the Williamsburg of Cincinnati<\/strong> apartment complex. Restitution for both will be determined later.<\/span><\/p>\n

In 2019, Silber and Schulman\u2014managing members of Rhodium Capital Advisors\u2014used a stolen identity and falsified documents to inflate the property\u2019s purchase price from $70 million<\/strong> to over $95 million<\/strong>. <\/span><\/p>\n

According to authorities, this deception led the lender and Fannie Mae to fund a\u00a0$74 million<\/span><\/strong> loan.<\/span><\/p>\n

Trial Attorney Siji Moore and Assistant U.S. Attorney Martha Nye are prosecuting the case.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Officials stated that four real estate investors were sentenced for their roles in a multi-year conspiracy to fraudulently secure multimillion-dollar loans on commercial and multifamily properties. 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