News Americas, QUEENS, NY, Fri. April 12, 2013: A Guyana-born, New York-based attorney and his sister are out on bail after being charged and arraigned in a Queens, NY court this week with mortgage fraud.
Attorney Michael Gangadeen, 47, of 332 North Village Avenue in Rockville Center, New York; his sister, Savitri (a.k.a. Savi) Gangadeen, 49, of 48 Willis Avenue in Floral Park, New York, and former Wells Fargo loan officer/mortgage consultant Paul Constante, 38, of 41 Ellison Avenue in Westbury, New York, were all charged with conspiring to commit mortgage fraud and larceny from Wells Fargo Bank by fraudulently obtaining mortgage funds in excess of $3.3 million pertaining to the purchase of six properties – including four in Queens – during a six-month period in 2008.
Michael Gangadeen is charged with first degree grand larceny, first-degree criminal possession of stolen property, first-degree falsifying business records, fourth-degree criminal facilitation, first degree scheme to defraud and fourth-degree conspiracy.
He was ordered held on bail of $25,000 bond/$15,000 cash. Queens Criminal Court Judge Michelle Armstrong set bail for Savitri Gangadeen at $30,000 bond/$10,000 cash and $15,000 bond/$5,000 cash for Constante.
All are set to return to court on April 23, 2013. If convicted, they all face up to 25 years in prison.
See related story at: https://www.newsamericasnow.com/?s=michael+gangadeen