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Real Estate Scammer Arrested for Affordable Home Fraud in Rockland County
Property owners and managers pay for their roles in Rockland County real estate fraud, according to the New York Attorney General.
Russell Mainardi, the property manager of 18-36 Columbus Avenue in Spring Valley, has accused the New York real estate business of exploiting an affordable co-op for personal gain and putting it at risk of foreclosure. agreed to be expelled from
Attorney General Letitia James said last week that after a two-year investigation, an affordable housing cooperative development in Spring Valley had been illegally funded by Mainardi and his girlfriend, who were acting as property. The agreement was announced after it disclosed that it was exposed to foreclosure due to abuse. co-op manager.
In 2014, Mainardi persuaded the former director to hire him to help finance the Columbus Avenue Cooperative, but charged an inflated fee, according to an investigation. Investigators say Mainardi never worked for a low-income cooperative and lied about his experience and background by hiding felony convictions of mortgage fraud and tax evasion. , he recruited his girlfriend as a “no-show” property manager and double-billed the cooperative for the same administrative tasks that both entities were allegedly performing. Mainardi also set up the director so that he was paid as a director and not required to pay for the maintenance of the cooperative unit, in violation of the regulations of the board.
Under an agreement with the state, Mainardi and his collaborators were ordered to pay the cooperative $148,681 in damages and a $250,000 fine. The agreement also requires Mainardi to void his $696,647 lien on the property that he improperly established. Also, his girlfriend was forced to resign as property manager and Minardi is permanently banned from any real estate development or fundraising activity in existing residential areas in New York.
RCC receives $210,000 to develop financial coaching program
Rockland Community College was selected as one of three schools to receive $210,000 to develop and launch a financial coaching program to improve student financial health and increase graduation rates.
Developed in conjunction with Westchester Community College, the National Workforce Education Council program is expanding nationwide through a $2.5 million investment from JPMorgan Chase.
Many young adults lack the knowledge, skills and behavioral tools to manage the complex financial and personal finances of the 21st century, officials say. According to NCWE Executive Director Darlene G. Miller, coaching can help bridge gender and racial equality wealth gaps and help “workforce education learners” overcome barriers to economic security. is useful for
RCC was selected through a competitive process. Fulton Montgomery Community College in Johnstown, New York and Mott Community College in Flint, Michigan also receive $210,000.
Using the financial coaching program launched by Westchester Community College in 2014, NCWE will provide individual coaching and technical assistance to Rockland Community College. Training, guidance and support required to employ staff. Assistance in building successful and sustainable programs.
To support the sustainability of the initiative, the NCWE team will help Rockland Community College develop a long-term business plan to incorporate financial health into its strategy and budget planning.
O&R Donates $5,000 to Catholic Charity Food Bank
Orange and Rockland Utilities donated $5,000 to Rockland’s Catholic Charities Community Services (CCCSR) for food bank programs. O&R supports numerous non-profit organizations by offering cash grants, employee volunteers, and more throughout our New York and New Jersey service territories.
CCCSR Executive Director Dan Eudene said: “For every dollar donated he provides his four meals to a needy family. So the continued generosity of his O&R that contributes significantly to our mission of helping our neighbors.” I am grateful to
The CCCSR Food Pantry is adjacent to our office at 78 Hudson Avenue in Haverstraw, New York. You will never be refused food for any reason. To register, call (845) 942-5791 during business hours. In addition to food, program participants will learn about the benefits of using fresh produce harvested from the Garden of Love.
O&R spokesperson Linda Feger said: