Texas man charged with fraudulent transfer of his aunts New York property

In the following press release Queens District Attorney Richard A. Brown today announced that a Texas man has been indicted on grand larceny and other charges for allegedly using a fraudulent power of attorney to transfer his elderly aunt’s Corona house to himself and taking two mortgages out on the property.

District Attorney Brown said, “The defendant is accused of trying to steal the property of a senior citizen out from under her. The victim in this case was ill and confined to a nursing home, making her a vulnerable target for this defendant. This is a serious crime which will be vigorously prosecuted.”

The District Attorney identified the defendant as Stanley Foster, 52, of 6144 Gateway Center, Suite 257, Kilgore, Texas. The defendant is charged with second and third-degree grand larceny, second and third degree criminal possession of stolen property, second-degree criminal possession of a forged instrument, first and second-degree falsifying business records, and first-degree offering a false instrument for filing.

The defendant faces up to15 years in prison if convicted. The defendant was arraigned today before Queens Supreme Court Justice James P. Griffin and released on $50,000 bail. He was ordered to return to court on September 9, 2009.

District Attorney Brown said that, according to the charges, the defendant transferred the residence of his aunt, Mattie Love, 73, located at 33-16 112th Street in Corona, to himself on September 7, 2005, allegedly using a fraudulent power of attorney that had years earlier been given to his late father but had never been filed. On April 5, 2006, the defendant allegedly obtained a mortgage in the amount of $150,000 on the property. On June 30, 2006, the defendant allegedly conveyed the property to himself and his girlfriend, Magda Remegio. He and Remegio allegedly obtained a mortgage from Wells Fargo in the amount of $225,000. He allegedly used proceeds of this mortgage to satisfy the Freemont mortgage and pay off a car loan. He allegedly deposited the remaining approximately $41,000 in an account belonging to Remegio.

District Attorney Brown added that, in the interim, due to the victim’s diminished physical health, a guardian, Nishandi Naidoo, was appointed to oversee her finances. Naidoo allegedly was able to negotiate with the defendant to have him deed the property back to his aunt on April 3, 2007. At the time of the transfer, however, the guardian was not aware of the Wells Fargo mortgage because it was not filed until August 28, 2007. The guardian became aware of this mortgage when a foreclosure action was commenced against the property in late 2007.

The investigation was conducted by Detective Jerome D. Pugh of the District Attorney’s Detective Bureau under the supervision of Sergeant John W. Kenna, Lieutenant Robert J. Burke and the overall supervision of Chief Lawrence J. Festa and Deputy Chief Albert D. Velardi.

Assistant District Attorney Khadijah Muhammad-Starling, of the District Attorney’s Economic Crimes Bureau, is prosecuting the case under the supervision of Gregory C. Pavlides, Bureau Chief, and Christina Hanophy, Deputy Bureau Chief, Kristen A. Kane, Chief of the Elder Fraud Unit, and the overall supervision of Executive Assistant District Attorney Peter A. Crusco and Deputy Executive Assistant District Attorney Linda M. Cantoni of the Investigations Division.

It should be noted that an indictment is merely an accusation and that a defendant is presumed innocent until proven guilty.

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