Fedlaire Aristide, 47, has been arrested for allegedly attempting to defraud Wells Fargo in a short sale scam that would have cost the bank thousands of dollars, Attorney General Eric Schneiderman announced on Wednesday, May 27.
According to the AG’s office, Aristide, of Freeport, New York, allegedly submitted, or aided in the submission of, false and forged documents to Wells Fargo in an effort to defraud the bank into approving a short sale – a process in which a bank agrees to modify and reduce an existing residential mortgage loan – of a Brooklyn home.
Aristide, who Schneiderman said is not a licensed real estate broker or agent, was also charged with stealing thousands of dollars from a Brooklyn couple whom he conned into giving him money towards the purchase of the same home, which he did not own and never acquired.
“We have zero tolerance for anyone who steals from hard-working New Yorkers, especially those who use the promise of homeownership to do so,” said Schneiderman. “My office will continue to pursue justice against anyone who attempts to profit from mortgage fraud.”
If convicted, Aristide faces up to seven years in prison.