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Charlie L. Divine

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Feds: Teaneck Owner Of 70 Multi-Family Properties Admits $150M Bank Fraud Scheme Feds: Teaneck Owner Of 70 Multi-Family Properties Admits $150M Bank Fraud Scheme
Feds: Teaneck Owner Of 70 Multi-Family Properties Admits $150M Bank Fraud Scheme A Teaneck landlord admitted in federal court this week that he orchestrated a $150 million bank and securities fraud scheme that lasted nearly 10 years. Seth Levine, 52, told a U.S. District Court judge in Newark via teleconference that he and others pocketed cash they received by illegally refinancing 70 multi-family buildings containing nearly 2,500 apartments. Levine said he lied on refinancing applications about the rents collected, the number of apartments leased, expenses and the true owners of the complex, Acting U.S. Attorney for New Jersey Rachael A. Honig said. That wasn’t all: L…

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by Jerry DeMarco