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Rockland County Man Sentenced For His Role In Mortgage Fraud Scheme

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BUFFALO, N.Y.- U.S. Attorney James P. Kennedy, Jr. announced on Friday that Daniel Badu, 56, of New City, NY, was convicted of conspiring to commit mail and wire fraud affecting a financial institution, was sentenced to time served and 10 months home detention by U.S. District Court Judge Lawrence J. Vilardo.

Assistant U.S. Attorney Elizabeth R. Moellering, who handled the case, stated that between 2008 and 2009, the defendant conspired with others to defraud The Funding Source (“TFS”), a mortgage bank, and other financial institutions by submitting fraudulent applications for home loans. After being originated by TFS, the loans were sold to other financial institutions, including M&T Bank and JPMorgan Chase.

The co-conspirators in this case submitted fraudulent applications for loans on eight properties in Bronx, NY. They fraudulently obtained mortgages that were insured by FHA on behalf of unqualified borrowers, such as the defendant. Badu was the purchaser on two of the properties and he aided in the submission of false documentation as part of the loan application, including documents purporting to show income from a fake job. The defendant also backstopped false employment for another loan, pretending that the borrower worked for his ophthalmology company, Eagle Eyes, which in reality was a shell company that performed no business.

The total loan amount for these eight transactions was $4,800,007.

In total, six defendants have pleaded guilty for their roles in this fraud. Attorney Laurence Savedoff, Esq. pleaded guilty to a misprision of a felony and was sentenced to four months in prison. Realtor and appraiser Julio Rodriguez pleaded guilty to mail and wire fraud affecting a financial institution, and a conspiracy to do the same, and was sentenced to six months in prison. Sentencing hearings are pending for mortgage broker Gregory Gibbons, and realtors Tina Brown and Alagi Samba.

The sentencing is the culmination of an investigation by the United States Postal Inspection Service under the direction of Joseph W. Cronin, Inspector-in-Charge, Boston Division; the United States Department of Housing and Urban Development, Office of the Inspector General, under the direction of Special Agent-in-Charge Brad Geary; and the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Gary Loeffert. Additionally, the New York State Department of Financial Services assisted with the investigation.

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Crime

Haverstraw Police Arrest Suspect in Connection with Residential Burglary

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On March 31, 2025, the Haverstraw Police Department located and arrested Carlos Sepulveda, 43, of West Haverstraw, New York, in connection with a residential burglary that recently occurred. Mr. Sepulveda was identified as the suspect depicted in a circulated image related to the incident.
The arrest stemmed from an investigation into a reported incident where a suspect allegedly entered a residence and stole a package.
Mr. Sepulveda has been charged with the following:
Burglary 2nd Degree (Class C Felony)
Criminal Trespass 3rd Degree (Class B Misdemeanor)
Petit Larceny (Class A Misdemeanor)
Following his arrest, Mr. Sepulveda was arraigned in Clarkstown Justice Court. He was subsequently remanded to the Rockland County Correctional Facility.

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Crime

Rockland County Court Rejects Convicted Murderer’s Eighth Attempt To Vacate Conviction

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Rockland County District Attorney Thomas E. Walsh, II, announced today that, in a decision issued on March 25, 2025, Rockland County Court Judge Kevin F. Russo rejected the latest attempt by convicted murderer Amer Zada to have his conviction vacated. The court noted that this motion is the eighth time Zada has sought to reverse or vacate his conviction.
In 1980, Zada was convicted of the murder of seventeen-year-old Shirley Smith in a Village of Nyack parking lot. He was also convicted of Attempted Sodomy in the First Degree and Aggravated Sexual Abuse as a result of his attack on Ms. Smith. At his trial, Zada was represented by William Kunstler, a world-renowned defense attorney who had gained notoriety for successfully defending many high profile and controversial clients.
In its decision, the court described the defendant’s current motion as being largely based on Zada’s claim that certain documents were not turned over to him prior to trial.
“The court found that Zada had failed to adequately establish this speculative claim as he provided no direct evidence that he had never received the documents. I would like to commend Executive Assistant District Attorney James Dolan for his dedication and professionalism representing the Office in this proceeding.” said District Attorney Tom Walsh.
The court also found that, even assuming that the documents had not been turned over, they were of little importance in the case against Zada and none of them were exculpatory within the meaning of the law. In addition, the court found that Zada’s motion to vacate his conviction raised only minor inconsistencies in the case against him, most of which were thoroughly explored by Mr. Kunstler during the trial. In conclusion, the court found that Zada had not offered anything to justify vacating his conviction.

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