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Man sentenced to 10 years in prison for mortgage fraud.
TAMPA (Bay News 9) -- A Clearwater man will spend the next 10 years in prison after he was found guilty of mortgage fraud.
Graham Kligerman, 34, was convicted of duping dozens of homeowners facing foreclosure. Investigators said he led them to think they'd be able to stay in their homes, because someone else would buy their house and then let them rent. Authorities said those buyers would take out loans worth more than what was owed and then walk away with the cash.
Investigators said Kligerman, a disbarred Florida attorney, conducted the closings for nearly 60 of these closings.
In addition to his prison term, Kligerman was ordered to pay $6.5 million in restitution.
I guess more convictions will follow...it will be crowded in the prisons with these kinds of people!
I guess he was just another hardworking (at scamming that is) American who should be able to keep his wealth!
Quote:
Originally Posted by bentlebee
Man sentenced to 10 years in prison for mortgage fraud.
TAMPA (Bay News 9) -- A Clearwater man will spend the next 10 years in prison after he was found guilty of mortgage fraud.
Graham Kligerman, 34, was convicted of duping dozens of homeowners facing foreclosure. Investigators said he led them to think they'd be able to stay in their homes, because someone else would buy their house and then let them rent. Authorities said those buyers would take out loans worth more than what was owed and then walk away with the cash.
Investigators said Kligerman, a disbarred Florida attorney, conducted the closings for nearly 60 of these closings.
In addition to his prison term, Kligerman was ordered to pay $6.5 million in restitution.
I guess more convictions will follow...it will be crowded in the prisons with these kinds of people!
That has to be the worst written article I've ever read. How in the world do people facing foreclosure (what does that mean exactly? Behind on payments? Already received notice of sheriff's sale?) take out a new mortgage for more than their house is worth, especially in this credit market? And it doesn't even connect Kligerman with any of the cash these homeowners walked away with. it just says he "conducted the closings". Why was he ordered to pay $6.5 million in restitution? Did he get anything close to that from someone? Why weren't any of these homeowners prosecuted? How does someone keep a job writing for a newspaper who can't write any better than this guy?
Also, how do you get a mortgage for a house and have the money go anywhere other than to the current lienholders BEFORE anyone gets to cash out?
I guess you have to go to visit the guy in prison if you want to know how it works!
I guess that is one of the reasons he is where he is today!
I have a neighbor down the street who works as a mortgage lender....is in financial trouble over her head....!
She wanted to find an appraiser who could appraise her home (right after closing in '05) for the same amount as properties on the best location in Tampa....well she got what she wanted, but now she isn't so happy anymore.
She got almost $ 100K on top of what she paid for right after closing...Got a boob job, eyes lasered, butt lift, tummy tuck, fitness equipment, new cars and now she has tax liens, HOA liens, lis pendens, but well she has her nice body!!!!, and I guess sleepless nights!
by the way I could sure use $150,000 for a new wardrobe.............
..and could I have lobter for breakfast to go with my champagne?
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I guess he was just another hardworking (at scamming that is) American who should be able to keep his wealth! 
