NY Mortgage Broker Indicted for Home Improvement Scam
January 29, 2001
New York banking regulators have announced a 93-count indictment against a Nassau County mortgage broker for allegedly bilking homeowners of millions of dollars through a bogus home improvement scheme. The mortgage broker, Ioannis Ioannou, has reportedly fled the country. However, he and his company, Homer Funding Ltd. face charges of grand larceny, criminal possession of a forged instrument, falsification of business records, and fraud.