Business ProfileforAurora Capital Advisors, LLC
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The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On May 22, 2019, a federal grand jury returned a 114-count superseding indictment charging Robert Morgan, Frank Giacobbe, Todd Morgan and Michael Tremiti with conspiracy to commit wire fraud for their roles in half a billion dollar mortgage fraud scheme in the US Attorney in the Western District of New York Court. The indictment settles allegations that the employees of the business Robert Morgan, Frank Giacobbe, Todd Morgan, and Michael Tremiti, (Robert Morgan was the managing member and chief executive officer of Morgan Management. Frank Giacobbe owned and operated Aurora Capital Advisors, identified himself as the Principal, and employed others to assist him in brokering, and attempting to broker real estate loans; Todd Morgan was employed at Morgan Management, and worked as a Project Manager at the company; and Michael Tremiti was employed at Morgan Management, and worked as Director of Finance for the company.) conspiracy to commit wire fraud and bank fraud for their roles in a half billion dollar mortgage fraud scheme. Under terms of the indictment, The defendants provided false information to financial institutions and government sponsored enterprises overstating the incomes of properties owned by Morgan Management or certain principles of Morgan Management. The false information induced financial institutions to issue loans: (1) for greater values than the financial institutions would have authorized had they been provided with truthful information; and (2) that the financial institutions would not have issued at the time of issuance had they been provided with truthful information. For more details, go to The US Attorney's Press Release.
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On March 15, 2019, the United States District Attorney announced a guilty plea in the Western District of New York by Patrick Ogiony, Managing Director of Aurora Capital Advisors. The defendant, Ogiony, his co-defendants, and others employed various mechanisms to mislead financial institutions regarding the properties’ occupancy. Ogiony specifically: provided false rent rolls to lenders and appraisers on a variety of dates, overstating either the number of renters in a property, the rent paid by occupants; provided or conspired to provide false and inflated income statements for the properties; and worked with others to deceive inspectors into believing that unoccupied apartments were, in fact, occupied. Defendant Kevin Morgan was previously convicted of conspiracy to commit bank fraud and is awaiting sentencing. Charges remain pending against Frank Giacobbe and Todd Morgan. The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty. For more details, go to The United States District Attorney's Press Release.
At-a-glance
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Business Details
- Location of This Business
- 57 Virginia Place, Buffalo, NY 14202
- BBB File Opened:
- 3/22/2019
- Years in Business:
- 14
- Business Started:
- 1/13/2010
- Business Incorporated:
- 1/13/2010
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Business Name
- Aurora Capital Advisors
- Business Management
- Mr. Patrick Ogiony, Managing Director
Customer Complaints
0 Customer Complaints
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