Multi-Million Dollar Fraud Scheme Causes Commercial Property Default

ByJohn Lomicky

Updated on

Case Overview

This case involves alleged mortgage fraud and larceny from a major banking institution. The defendants were accused of fraudulently obtaining mortgage funds in excess of $12 million pertaining to the purchase of a commercial property. The DA alleged that the defendants pushed through more than $12 million in fraudulent mortgage loan transactions in 2 years by falsely inflating the income and assets of the borrowers. They claimed the defendants’ alleged actions resulted in the commercial property going into default. An expert in mortgage fraud was sought to opine on the case.

Questions to the Real Estate expert and their responses

Q1

Please describe your background in mortgages.

I have 25+ years of experience as a licensed real estate broker and mortgage broker. I have extensive experience with mortgages, HUD settlement statements, state banking department regulations, and closing settlements. I currently serve as the president and CEO for a commercial real estate brokerage and a mortgage consulting firm.

About the expert

This expert has over 25 years of experience as a licensed real estate broker and mortgage broker. He earned his BS in accounting from St. Francis College and his MBA in Finance from Wagner College. He is very active in his field as a member of several associations including the National Association of Realtors, the New York State Association of Realtors, and the New York Association of Mortgage Brokers. Formerly, he served as president and CEO for his own company named J. Orlando & Co. as a tax accountant. Currently, he is the president and CEO for a commercial real estate brokerage and a mortgage consulting firm in New York City.

Expert headshot

E-007838

Specialties:

Real Estate

About the author

John Lomicky

John Lomicky

John Lomicky is a J.D. candidate at FSU Law with a multidisciplinary background. He earned his Bachelor's degree in Neurobiology and Near Eastern Studies from Georgetown University and has graduate degrees in International Business and Eurasian Studies. His extensive professional experience includes significant contributions in legal business development and research.

At Expert Institute, John held several key roles over five years, including Director of Business Development, where he oversaw an inside sales team, generating six-figure monthly revenue and fostering relationships with a diverse range of legal practices, including top-tier firms and solo practitioners. As Associate Director of Research, he led the company's first physical expansion, establishing a successful operation in California and managing a team of over 20 research and sales professionals. In his role as Associate in Research, he provided tailored consulting services to attorney clients across North America, connecting them with the right experts for cases in various fields, including personal injury and intellectual property,

John's expertise spans managing sales teams and driving company expansion, developing consultative services tailored to legal practices, and cultivating strong relationships within the legal community.

He is currently pursuing a JD/LLM in Tax at the University of Florida - Fredric G. Levin College of Law, where he is involved with the Florida Tax Moot Court Team and the Low-Income Taxpayer Clinic.

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