East Haven Man Gets Three Years in Jail for Mortgage Fraud Scheme

An East Haven businessman was sentenced to more than three years in a federal prison after he plead guilty to heading a multi-million dollar mortgage fraud scheme that involved numerous properties throughout New Haven County.

Abdelghany Antar, 66, of East Haven, was sentenced Friday by United States District Judge Christopher F. Droney in Hartford to 37 months of imprisonment, followed by two years of supervised release, for devising and leading a mortgage fraud scheme in New Haven County, according Tom Carson, public information officer for the United States Attorney for the District of Connecticut's Office.

Carson told Patch on Friday that most of the properties were located in New Haven, West Haven and East Haven.

According to court documents and statements made in court, Antar owned and operated ATZ Realty, at 612 Main Street, in East Haven.

Carson said from June 2006 to October 2007, Antar conspired with a former employee, Andrea J. Palmucci, to purchase 11 properties in New Haven County in Palmucci’s name.

"Antar and Palmucci made false statements to various mortgage lenders, including statements about Palmucci’s income, assets, liabilities, employment, and intention to occupy the home as a primary residence," Carson stated in a press release Friday.

In addition, Carson said the deposits and down payments for the properties were paid out of bank accounts in Palmucci’s name with funds owned and controlled by Antar.

After the closings, Palmucci quitclaimed the properties back to Antar or to entities that Antar owned or controlled.

"Through this scheme, Antar obtained more than $2.7 million in fraudulent mortgages," Carson said, adding that Antar also has admitted he committed mortgage fraud with respect to another 10 properties in the greater New Haven area from March 2005 to November 2006.

"By making, or causing to be made, materially false statements" to various mortgage lenders, Carson said Antar obtained 11 fraudulent mortgages totaling more than $2 million to purchase the 10 properties in another individual’s name, "but for Antar's own benefit."       

In total, Antar obtained, or helped to obtain, 22 fraudulent mortgages totaling approximately $4.778 million to purchase 21 properties in New Haven County.

All 21 properties have been foreclosed upon or are in default, causing losses of more than $2 million to the lenders.       

A hearing to determine the amount of restitution that Antar will be ordered to pay will be held on a future date.       

Carson said on July 19, to one count of conspiracy to commit wire fraud. On May 24, Palmucci waived her right to indictment and pleaded guilty to one count of conspiracy to commit wire fraud. She awaits sentencing, Carson said.

This case is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney David T. Huang.