Sobbing Swindler, John Star, Pleads Guilty To Running A $11M Mortgage Fraud Scheme
Mortgage Fraud Schemer, John Star, a Nigerian-born and Yiddish-speaking real estate broker, pleaded guilty last week to participating in an $11 million mortgage fraud scheme in Brooklyn and then going on the lam for four years in Toronto, Canada using the fake name Elvis Ized before he was captured in May of 2014.
Star, 44, was arrested by the feds in April 2010 and was released on $200,000 bail, then failed to return to court. Authorities found him living in Toronto under the fake name Elvis Ized in May 2014.
In August 2010, John Star and nine other defendants, including three attorneys and two license reel estate brokers, were indicted by the U.S. Attorney’s Office in Southern New York with conspiracy, bank fraud, and wire fraud for a $10 million mortgage fraud scheme that used straw buyers to dupe lenders. The defendants in this case had allegedly obtained $11,000,000 in fraudulent loans from American Home Mortgage, Fremont Bank, BNC Mortgage and WMC mortgage. All of whom are no longer in business.
“Your honor, I have to be very candid with you, I’m guilty,” Star said in Brooklyn Federal Court.
He faces up to 17½ years in prison when he’s sentenced later this year.
Other charged in the case were Akin Ayorinde, Hervin Henry, Anthony Onua, Umana Oton, Max Shimba, John Star, Anthony Suazo and Marisol Vasquez. Two others were charged with conspiracy to commit bank and wire fraud. In addition, Ayorinde, Henry, Onua, Oton, Shimba, Star, Suazo, and two others are charged with bank fraud, and Ayorinde, Henry, Onua, Shimba, and two others are charged with wire fraud.