Haredi Man Linked To Satmar Scammer Moses Stern Must Pay $1.75 Million In Bank Fraud Case
A Monsey haredi man who pleaded guilty to bank fraud was sentenced last
week to three years of supervised probation. David Neumann must also pay
$1.75 million in restitution. Neumann is linked to Satmar
scammer Moses Stern, the FBI’s cooperating witness who allegedly bribed
politicians in Spring Valley and New York City in a large sting
operation earlier this year.
Moses "Mark" Stern
Haredi Man Linked To Satmar Scammer Moses Stern Must Pay $1.75 Million In Bank Fraud Case
Shmarya Rosenberg • Failedmessiah.com
A Monsey haredi man who pleaded guilty to bank fraud was sentenced last week to three years of supervised probation. David Neumann must also pay $1.75 million in restitution.
Neumann is linked to Satmar scammer Moses "Mark" Stern, the FBI’s cooperating witness who allegedly bribed politicians in Spring Valley and New York City in a large sting operation earlier this year. Stern personally owes more than $100 million to CitiBank. Stern pleaded guilty to as yet undisclosed federal charges in March.
Neumann’s case involved the sale of a single-family Monsey house in 2007.
The dilapidated house is next door to Stern’s mansion.
One of Stern’s companies sold the run-down house to Neumann and Yehuda Brull for $1.85 million a property Stern had bought several months before that for $600,000 and had not improved. Neumann forged appraisals to get $1.75 million in mortgages and lines of credit. Neumann then defaulted on them, and the house was put into foreclosure.
Stern is reportedly not included or mentioned in the federal case against Neumann – something that may have more to do with his status as a cooperating witness than it does with his level of guilt or innocence.
Charges against Brull were dropped.
Index Of Posts About Satmar Scammer Moses "Mark" Stern.
[Hat Tip: Devorah.]
Why no jail time?
Posted by: Devorah | June 14, 2013 at 02:21 PM
He's a creative guy, he'll find the money.
Posted by: FlatEarth | June 14, 2013 at 02:26 PM
Q. Why do these frummer engage in so many economic crimes?
A. 1-They have no skills
2-They have to support their large families.
3- They have to pay expensive weddings
4- They have to support married children inkollel
5- All of above
Posted by: Bas Melech | June 14, 2013 at 05:17 PM
This is a shonda. Think of all the kollel schnorrers who could be supported by $1.75 mil. The judge is Hitler, Amalek, Soton, and the Malach Hamaves all rolled into one. (sarcasm)
Posted by: Yochanan Lavie | June 14, 2013 at 06:03 PM
This dude got NO time? And having to pay 1.75 million in restitution? His lawyer must be the best thing since sliced bread. As a practicing attorney myself, all I can say is "WOW!"
Posted by: Robert J. Barron, Attorney-at-Law | June 14, 2013 at 11:03 PM
I wonder why the bank didn't check out the house before giving such a big loan. I wonder why no one at the county or town level was wise to the scam. I wonder how many more people in Monsey made big bucks doing the same thing.
Posted by: yehudis | June 15, 2013 at 06:42 PM