Ex-L.I. Lawmaker Accused In $82M Mortgage Scam Now Charged w/ Forging Lender Endorsement On $853K Check To Pocket Insuance Cash For Burned Home

In Suffolk County, New York, The Southampton Press reports:

• Former Suffolk County Legislator George O. Guldi was indicted for a second time this year Thursday, September 17, in a Riverhead courtroom, on unrelated felony insurance fraud charges stemming from a fire that destroyed his Westhampton Beach home nearly a year ago. Mr. Guldi was indicted in August for his alleged role in a $82 million mortgage fraud scheme.

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• Prosecutors said that Mr. Guldi submitted a claim to the insurance company after his house burned down and received a check for $853,000, money that was supposed to be used to rebuild the home, which is now in foreclosure. If the home was not rebuilt, Countrywide Home Loans would have applied the insurance money to the outstanding mortgage.(1) Prosecutors said that about $163,000 is now left in the bank account in which Mr. Guldi had deposited the $853,000 check. They also said that he forged the endorsement of Countrywide Home Loans when he deposited the check. Prosecutors froze the account.

For more, see Prosecutors charge Guldi with insurance fraud.

From the Suffolk County, NY DA's Office:

• Press release: Ex east end lawmaker indicted a second time for forgery, grand larceny, and other crimes,
• Indictment: People v. Guldi.

(1) The lender was left holding an unpaid $1.4 million mortgage, according to the Suffolk County DA.