YOU MAY HAVE SEEN TODD SPODEK ON THE NETFLIX SHOW INVENTING ANNA
When you’re facing a federal issue, you need an attorney whose going to be available 24/7 to help you get the results and outcome you need. The value of working with the Spodek Law Group is that we treat each and every client like a member of our family.
Client Testimonials
5
THE BEST LAWYER ANYONE COULD ASK FOR.
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.
Spodek Law Group, PC: Premier NYC Straw Buyer Fraud Law Firm
Spodek Law Group, PC, is a premier NYC straw buyer fraud law firm. This is a type of fraud in which someone buys a home under false pretenses. The goal of a straw buyer is to improperly obtain funds from a lender using false representations when applying. Because a financial institution is being defrauded, a straw buyer mortgage scheme can lead to federal bank fraud charges. Federal and state authorities are very aggressive going after straw buyers. Whether you organized, or simply agreed to act as the buyer – you are responsible for the entire scam, and can face decades in prison.
What is a Straw Buyer?
Straw buyers are defined as people who purchase a home, take a loan, and claim to live in the house and pay the mortgage – even though the buyer isn’t intending on doing any of the above. Straw buyers can be real people, and in some cases – are fake people. This is a very common type of mortgage fraud. Buyers often work with appraisers, realtors, or even mortgage brokers.
Below are examples of straw buyer mortgage fraud schemes. In these scams, someone wants to buy a home, but doesn’t have enough credit to qualify for a loan. The straw buyer agrees to take the loan and buy the home in his name – representing to the lender he will be the one living and paying for the home. Straw buyers are often friends, family members, or a stranger – who is being given financial incentives. Straw buyers are often paid thousands of dollars to participate in the fraudulent mortgage application. Realtors who participate in this type of scam often inflate the home purchase price – or inflate their commission, in order to get more funds.
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!
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.
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.
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.
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!
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.
Reverse mortgage: Straw buyer in this case is a senior who takes ownership of a foreclosed home. The straw buyer lives in the home, takes a reverse mortgage on the house and asks for a lump sum. The buyer, and others in the scam leave the home after getting it.
Builder bailout: A builder needs to make it look like his project is profitable. So, in order to do this, he finds a straw buyer – to make it look like his properties sell. He uses this to incentivize a lender to give him money. The lender renews the builder’s loan based on the sale of the home. The builder sells the house to the straw buyer for more than the house is worth in order to get more funds. The builder may also provide a financial incentive to the straw buyer without disclosing this to the lender.
Mortgage broker scams: A mortgage broker gets loans for a straw buyer. The proceeds of the loans are taken by the scammers. Multiple loans are obtained on the same property. The closings are scheduled close together, so the lenders don’t realize the same home is being used as collateral for multiple mortgages.
Penalties for Straw Buyer Fraud
Section 1344 defines a federal offense of bank fraud – to anyone who participated in the scheme to improperly obtain funds or assets. When a loan is obtained through false pretenses, this can lead to federal charges. Bank fraud has a maximum of 30 years in prison, in addition to a fine of $1,000,000. If you are involved in a straw buyer scheme, you need to contact our NYC straw buyer criminal lawyers.
NY penal code Section 187 prohibits residential mortgage fraud. The amount of money defrauded defines the degree of the offense and the penalties. Typically, you can also expect mail and wire fraud charges if you sent the documents for the mortgage application through the mail, internet, or other wire services. Each of these offenses carries a 30-year imprisonment, or a $1 million fine.
If you are facing charges related to straw buyer fraud, it is crucial to hire an experienced NYC straw buyer fraud attorney to defend your rights and protect your future. Contact Spodek Law Group, PC today for a consultation.
