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The BEST LAWYER ANYONE COULD ASK FOR!!! Todd changed our lives! He’s not JUST a lawyer representing us for a case. Todd and his office have become Family. When we entered his office in August of 2022, we entered with such anxiety, uncertainty, and so much stress. Honestly we were very lost. My husband and I felt alone. How could a lawyer who didn’t know us, know our family, know our background represents us, When this could change our lives for the next 5-7years that my husband was facing in Federal jail. By the time our free consultation was over with Todd, we left his office at ease. All our questions were answered and we had a sense of relief.

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NY Mortgage and Creditors Fraud

In this post we’re going to continue our ongoing look at New York’s penal laws, this time with the various charges involved in mortgage and creditor fraud. So first off, let’s start with fraud in insolvency.

Fraud in insolvency.

For this section, administrator basically means an assignee or trustee for a creditor’s benefit, liquidator, or any other type of person who’s entitled to administer property. Now to be guilty of fraud in insolvency, you’ll have to have conveyed or transferred any part of the debtor’s estate, or obtain a substantial part of the debtor’s estate, present a false material statement to a creditor, or misrepresent any part of the interest in the debtor’s estate, all with the intention to defraud. This crime is a class A misdemeanor.

Fraud involving a security interest.

You’re guilty of this particular crime when, after executing a security agreement, you have under the security agreement the right of sale or other kind of disposition of the property, or having under the security agreement you secrete, withhold, or dispose of the property. This crime is charged as a class A misdemeanor.

Fraudulent disposition of mortgaged property.

A person is guilty of this crime when they sell, assign, exchange, or otherwise dispose of some sort of property with the intention of defrauding the mortgagee in question. This charge is a class A misdemeanor.

George FernandezGeorge Fernandez
14:16 30 Apr 24
Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.
21:33 24 Apr 24
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
Yelva Saint-PreuxYelva Saint-Preux
19:26 19 Apr 24
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Katherine SunKatherine Sun
18:08 18 Apr 24
my lawyer is Alex Zhik. Efficient, patient and professional
Nun yaNun ya
17:48 18 Apr 24
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Keisha ParrisKeisha Parris
20:45 15 Mar 24
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
Taïko BeautyTaïko Beauty
16:26 15 Mar 24
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
K MarK Mar
01:37 25 Jan 24
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.

Fraudulent disposition of property subject to a conditional sale contract.

To be guilty of this crime, you’ll have to have sold, assigned, mortgaged, or otherwise disposed of goods in order to defraud someone else. Fraudulent disposition of property subject to a conditional sale contract is a class A misdemeanor.


In order to cover the next portion of this article, we’re going to have to get into some definitions.

  • By person, we mean an individual or entity.
  • Residential mortgage loan is a loan or agreement to extend credit, including renewing a loan that’s primarily secured by a mortgage, deed of trust, or any other lien.
  • A residential real property is real property that’s been improved by a one-to-four family dwelling, or else a residential unit in a building that includes units that are owned as condos.
  • Residential mortgage fraud is committed when someone knowingly and with the intent to defraud presents or prepares with knowledge or belief that it’ll be used to solicit an applicant for a residential mortgage loan, any written statement that contains false information about any fact, or which conceals information that concerns any fact material.

Limitation on prosecution.

It’s important to note that no one who applies for a residential mortgage loan and actually intends to occupy this property will be held liable provided that anyone who commits a crime defined in this article can be charged as an accessory to the crime.

Residential mortgage fraud in the fifth degree.

This charge is simply when you commit residential mortgage fraud, and it’s punished as a class A misdemeanor.

Residential mortgage fraud in the fourth degree.

This crime is when you commit residential mortgage fraud and receive proceeds in excess of $1,000. This charge is considered to be a class E felony.

Residential mortgage fraud in the third degree.

Same thing here, but the total amount has to be greater than $3,000. This charge is a class D felony.

Residential mortgage fraud in the second degree.

If you’ve committed mortgage fraud with a total in excess of $50,000, you’re guilty of this crime and will be facing a class C felony.

Residential mortgage fraud in the first degree.

And finally we have the first degree charge for this crime. This applies when the proceeds are in excess of one million dollars, and is punished as a class B felony.

So there you go. Even though the letter of the law can be pretty complicated and filled with legalese that you’ll need a machete to hack through, it doesn’t always have to be. In fact, when we break down the New York penal law the way that we have, I think you’ll agree that it even becomes kind of simple.

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