Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that JACOB DEUTSCH, 57, of Brooklyn, New York, waived his right to be indicted and pleaded guilty today before U.S. District Judge Omar A. Williams in Hartford to a charge stemming from a wide-ranging mortgage fraud scheme involving 24 mortgage loans on numerous multifamily housing properties in Hartford totaling nearly $50 million.

According to court documents and statements in court proceedings, Jacob Deutsch and Aron Deutsch work at B H Property Management, LLC (“BHPM”), a property management company that manages numerous multifamily housing properties in Hartford.  From September 2016 through May 2021, Jacob Deutsch, who ran the day-to-day operations BHPM, and Aron Deutsch engaged in a scheme to defraud several financial institutions, government-sponsored enterprises Federal Home Loan Mortgage Company (“Freddie Mac”) and the Federal National Mortgage Association (“Fannie Mae”), and the U.S. Department of Housing and Urban Development (“HUD”) by providing them with false information overstating the value of multifamily housing properties managed by BHPM in connection with loans secured by those properties.

To continue reading the rest of the article, please click on the source link below:

https://www.justice.gov/usao-ct/pr/new-york-man-admits-role-mortgage-fraud-scheme-involving-hartford-apartment-buildings