49°
Long Island resident Daniel Boldi, age 49, of Garden City acted as settlement agent and bank attorney in multiple property sales on Long Island and embezzled millions of dollars of his clients’ escrow and home loan funds, according to Nassau County District Attorney Anne T. Donnelly.
The scam involved 46 separate real estate transactions between September 2020 and January 2024, Donnelly said.
Boldi pleaded guilty to 13 counts of grand larceny in the second degree (a Class C felony) and one count of scheme to defraud in the first degree (a Class E felony).
Boldi is expected to be sentenced to three to nine years in prison and is required to pay $1,000,000 in partial upfront restitution.
As a consequence of his pleas of guilty to felony charges, he will no longer be licensed to practice law.
Donnelly said that between September 2020, and January 2024, Boldi owned and operated his law firm, Boldi Law Group, P.C., embezzled a total of $5,780,424 from 46 victims, ranging from individual homeowners, real estate agents, and other entities for whom he held money in escrow.
Boldi committed escrow thefts that totaled $4,630,424 from victims who worked with him on sales of their property or the purchasing of new property.
In one scheme, Boldi provided a private lender with a fraudulent mortgage and title closing records, embezzling $1.15 million through two separate loan thefts.
According to bank records, Boldi used the funds he stole on various personal expenses unrelated to the victims’ transactions, including Venmo payments to other individuals and property investments.
“Daniel Boldi posed as a trusted professional in real estate transactions and orchestrated elaborate schemes that defrauded nearly four dozen prospective homeowners, real estate brokers, and even a volunteer ambulance corps out of more than five million dollars,” said Donnelly.
Click here to follow Daily Voice Babylon and receive free news updates.
