> Sanford Solny, the real estate investor accused of stealing dozens of homes from financially struggling homeowners across New York City, was jailed at a probation hearing this week.
> For over a decade, Mr. Solny built a real estate empire through deed theft, prosecutors said. He targeted homeowners who had fallen behind on their payments, presenting himself as a lawyer who could negotiate with banks to arrange a short sale. The pitch sounded like a win-win: The distressed homeowner would receive a modest payout and the debt would be erased.
> In reality, these homeowners did not sign off on relief from their loans, but on the title to their homes. The mortgage often remained in their names, even as Mr. Solny installed renters in the homes and began collecting rent.
> In 2018, he pleaded guilty in the State Supreme Court in Queens to possession of stolen property and a year later, he was sentenced to five years of probation. He violated that probation less than three months after it began in 2019 by stealing another home — this one in Brooklyn.
randycupertino•4mo ago
> Sanford Solny, the real estate investor accused of stealing dozens of homes from financially struggling homeowners across New York City, was jailed at a probation hearing this week.
> For over a decade, Mr. Solny built a real estate empire through deed theft, prosecutors said. He targeted homeowners who had fallen behind on their payments, presenting himself as a lawyer who could negotiate with banks to arrange a short sale. The pitch sounded like a win-win: The distressed homeowner would receive a modest payout and the debt would be erased.
> In reality, these homeowners did not sign off on relief from their loans, but on the title to their homes. The mortgage often remained in their names, even as Mr. Solny installed renters in the homes and began collecting rent.
> In 2018, he pleaded guilty in the State Supreme Court in Queens to possession of stolen property and a year later, he was sentenced to five years of probation. He violated that probation less than three months after it began in 2019 by stealing another home — this one in Brooklyn.