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ROOKLYN, NY — A Brooklyn jury has convicted a local business owner of orchestrating a $2.4 million conspiracy involving wire fraud and bank fraud. The defendant now faces up to 30 years in prison. According to prosecutors, Avraham Tarshish, 40, manipulated homeowners into selling their properties at below-market value while working for My Ideal Property, Inc. and other companies he owned.

    Tarshish's scheme involved lowering property values by intentionally damaging homes or placing fraudulent liens on them, preventing homeowners from receiving better offers. Prosecutors presented evidence of 11 such cases, which collectively scammed homeowners out of $2.4 million between March 2013 and November 2018.

    "The defendant exploited taxpayer-funded mortgage loan programs for personal gain," said Breon Peace, United States Attorney for the Eastern District of New York. "This type of short sale mortgage fraud harms lending institutions, depresses real estate values, and prevents community members from accessing fair housing."

    Four others involved in the scheme have also pleaded guilty.