Student Film Documentary On Subprime Crisis Results In Legal Threats From Brooklyn Developer

In Brooklyn, New York, The New York Times reports on three Hunter College students, a film documentary called "Subprimed" that they are working on that reportedly exposes the exploitation that lies behind much of the foreclosure and subprime crisis in Brooklyn, and a local real estate development company that has its owners, brothers Michael and Joseph Makhani, pretty ticked off. The story highlights 14 residents on two streets in East New York who were in danger of losing their homes, and who had all bought the properties from them.(1)

For the story, see Student Filmmakers, Not Ceasing or Desisting.

(1) Being the target of bad publicity is apparently not new for the brothers. Reportedly, both Makhani brothers pleaded guilty in federal court in 1999 to taking part in a scheme involving foreclosed properties in Queens; they were fined and sentenced to three months in prison. And last December, their company, HPD, LLC and two other companies in which Joseph Makhani is a principal pleaded guilty to filing false deeds as part of a housing scam in Queens. The companies were fined $5,000 each.