Convicted Fraudster Gregg Blaney Is Back Cruising For Tricks In Detroit’s Real Estate Underworld

Convicted Fraudster Gregg BlaneyConvicted fraudster Gregg Blaney thinks he’s being sneaky. He thinks he can weasel his way back into real estate and mortgage lending.

He believes he can do it under the radar of federal and state agencies.

Unfortunately for him, MFI-Miami found out last week that Blaney is trying to weasel his way back into lending and real estate in violation of a court order.

So it’s only a matter of time before he gets busted and is sent back to a life of making merlot in prison cell toilets.

We’re watching him and soon federal officials and the state of Michigan will be knocking on his door.

Gregg Blaney was convicted of mortgage fraud in 2013 on at least 10 properties in Detroit from June 2006 through December 2007. Federal prosecutors were able to prove that Blaney was buying homes using straw buyers.

Convicted Fraudster Gregg BlaneyThey also proved Blaney gave false information about and mispresented the income of several straw buyers to the now-defunct Long Beach Mortgage and Washington Mutual Bank. JP Morgan Chase Bank acquired the assets of Long Beach Mortgage and Washington Mutual from the FDIC in 2008.

Blaney even received a $40,000 kickback on one transaction financed by the now-defunct Indy-Mac Bank. He also received over $55,000 in another transaction involving Washington Mutual Bank

A federal judge in Detroit ordered Blaney to serve three years in federal prison for the $1,000,000 in fraudulent loans.

The court also ordered Blaney to pay restitution in the amount of $801,634.48. In addition, the state of Michigan also barred Blaney from the industry for life.

He was released from federal prison in February 2016 after serving three years clutching soap in the showers. 

WARNING! Convicted Fraudster Gregg Blaney Is Back Stealthily Flipping Properties 

Convicted Fraudster Gregg BlaneyConvicted fraudster Gregg Blaney wasted no time getting back into the Detroit real estate arena.

However, he has to be careful because of his lifetime ban. He also has to keep federal marshalls from finding out about his secret income. 

As a result, convicted fraudster Gregg Blaney has to move stealthily. He has to move as if he was cruising for tricks in New York’s gay leather bar underworld in the 1970s.

Since getting out of prison, he has brokered nearly a hundred real estate deals pocketing nearly $1,500,000. He has also been acting as an unlicensed broker buying and selling non-performing mortgage debt. 

Blaney uses his money to live large in the posh Detroit suburb of Bloomfield Hills. 

Yet, Blaney has paid a little or nothing toward his $801,634.48 in restitution to the federal court. He tells the court that he has no income.

So how is Blaney able to live and play in one of Detroit’s wealthiest suburbs? For starters, Blaney is a pretty sneaky guy. He uses a bogus address for his corporate filings with the state of Michigan.

The state of Michigan has 1750 Hollwood, Bloomfield Hills, MI listed as the address for his LLC, GVB Consulting. However, 1750 Hollwood doesn’t exist. Blaney’s address is actually 1750 Hillwood, Bloomfield Hills, MI. Sources have confirmed that Blaney does live in the $1.284 million home. 

People doing business with Blaney were unaware of his criminal conviction and his lifetime ban. Business associates suspected something was up earlier this year. Blaney had several of them write a check to Robert Hynes for his cut in a real estate deal. Blaney claimed Hynes was his son according to several sources. However, that cannot be confirmed.



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