Allegedly Took Ownership of Property After Victim Paid Him for Foreclosure Protection, Illegally Collected $60,000 in Rent Subsidies
Bronx District Attorney Darcel D. Clark announced that a Bronx man has been indicted on Grand Larceny and other charges for defrauding an elderly homeowner who came to him for foreclosure protection and collecting HRA rent subsidies for the stolen property.
District Attorney Clark said, “The defendant, a licensed real estate agent, allegedly deceived a vulnerable 70-year-old man who was facing foreclosure on his house by having him transfer ownership to a trust in the agent’s name, charging him $5,000, on the promise he would get his property back. Simply because someone is a licensed professional does not mean they are above committing fraud. In fact, people use their licenses to gain the trust of their victims. One should always research the professional on the Internet to look for previous complaints or bad reviews before they entrust them with one’s assets.”
District Attorney Clark said the defendant, Kenneth Lester Floyd Jr., 63, of 603 Prospect Avenue, the Bronx, was arraigned on Friday, December 13, 2024, before Bronx Supreme Court Justice Brenda Rivera on two counts of second-degree Grand Larceny, third-degree Grand Larceny, second-degree Criminal Possession of Stolen Property, second-degree Welfare Fraud, third-degree Welfare Fraud first-degree Scheme to Defraud. The defendant is due back in court on March 6, 2024.
According to the investigation, in 2019, Garnett Miller, 70, was facing foreclosure on his two-family house on Fish Avenue. He was referred to Floyd Jr. a licensed real estate agent who allegedly invited Miller to his office at 593 Prospect Avenue and allegedly convinced him to transfer his property to a trust controlled by Floyd, promising Miller he would transfer the property back in six to nine months. Miller paid him $5,000. Floyd also allegedly promised he would move in tenants to help pay off the mortgage arrears.
Miller transferred his property on June 20, 2019, to a trust controlled by Floyd. Floyd moved in a tenant on November 30, 2019, and allegedly illegally collected over $60,000 in rental subsidies from the NYC Human Resources Administration through the cityFHEPS rental assistance program and has not made a payment to the mortgage company or returned the property to Miller, who still resides there. The defendant is allegedly fighting Miller in civil court to retain title to the property.
District Attorney Clark thanked BXDA Senior Investigator Lieutenant Vincent Cantarella and Senior Investigator Anai Tamarez for their work in the investigation.
An indictment is an accusatory instrument and not proof of a defendant’s guilt.
If you think you are a victim of real estate fraud, contact the BXDA Civilian Complaint Unit At 718-590-2300 or via email at www.bronxda.nyc.gov/html/contact/civilian-complaintunit.shtml
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