Baltimore, Maryland – A federal grand jury has returned an indictment charging Philip Abramowitz, age 50, of Pikesville, Maryland, with bank fraud and conspiracy to commit bank fraud and Calvin Abramowitz, age 48, of Lakewood, New Jersey, with conspiracy to commit bank fraud, bank fraud, and for making false statements on a loan application.

The defendants will have initial appearances on March 24, 2022, beginning at 1:30 p.m., in U.S. District Court in Baltimore before U.S. Magistrate Judge Coulson.

The indictment was announced by United States Attorney for the District of Maryland Erek L. Barron and Special Agent in Charge Bertrand Nelson of the U.S. Department of Housing and Urban Development Office of Inspector General.

According to the four-count indictment, from May 2016 to April 2017, Philip and Calvin Abramowitz conspired to defraud two financial institutions to obtain money and property under fraudulent pretenses.  Allegedly, Philip, Calvin Abramowitz, as well as others submitted mortgage applications totaling $535,448 to fund the purchase of two Baltimore Properties.  Allegedly, the loan applications contained false information that misrepresented the financing of the purchases and the ownership interests and intentions of the involved parties.

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