A former New York football player was indicted along with six co-defendants in connection with 15 allegedly fraudulent mortgage transactions that netted around $6 million, Brooklyn officials said Wednesday.

Kings County District Attorney Charles Hynes said Owen Larman, a former Canarsie High School football star and former New York Newsday‘s Brooklyn player of the year, was indicted along with six co-defendants.

The group was indicted for allegedly stealing about $6.2 million from seven different banks by falsifying documents to inflate the value of properties being sold, officials said. The allegedly fraudulent mortgage transactions were said to have taken place in the areas of Bedford-Stuyvesant Crown Heights and Bushwick, N.Y.

Larman is charged with grand larceny in the first and second degrees and forgery. Larman faces a maximum of 25 years in prison.

According to the District Attorney, investigations revealed that Larman made 33 separate fraudulent mortgage transactions dating back six years, allegedly stealing approximately $12 million.

The other defendants in the case are Micheal Nanton, an unlicensed appraiser; Louise Brown, an attorney; Joey Singh, also known as Puneet Bhalla, a former loan officer with U.S. Mortgage; Melinda Cross, a former employee of US Mortgage and Larman’s girlfriend; Delbert Baptise; and Augusta Uwechue, a title company employee, according to the District Attorney’s office.

Larman used false appraisals to boost the value of abandoned buildings and then sold them repeatedly, the District Attorney’s Office said.

Larman allegedly used childhood friends, families of friends, women that he had dated, and others in his scam, the District Attorney said. Larman would victimize these people by getting them to agree to buy a house or to act as “straw buyers,” in which case they would allow him to use their names in order to get mortgages approved, according to the District Attorney.

The lion’s share of the loan proceeds went directly to Larman, the District Attorney said. While Larman kept this money and control of the houses, these individuals’ credit histories were ruined and they owed huge debts from the loans that Larman took out in their names, according to the District Attorney

***

Send tips or a Letter to the Editor to janis@inman.com or call (510) 658-9252, ext. 140.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription