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Mortgage $$-plot slap

31 July 2010 63 views No Comment

Manhattan prosecutors won grand-slam convictions yesterday against four of the unsung villains of the housing-market collapse — a quartet of brokers and lawyers who ran a $100 million mortgage scam using properties and straw buyers from across the city.

DA Cyrus Vance Jr. called the case against AFG Financial Group and its principals one of the largest and most complex mortgage-fraud prosecutions in the country. To date, the prosecution has yielded 27 convictions.

Convicted of enterprise corruption, scheme to defraud, conspiracy, grand larceny and other felonies after a nine-week trial were AFG president Aaron Hand, 38, of Oyster Bay Cove; CEO Eric Shields, 45, of Media, Pa.; attorney Kenneth Law, 54, of Pelham, NY; and property locator Jerry Strklja, 36, of Astoria, Queens.

They face up to 25 years in prison at sentencing next month.

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