During the halcyon years of the housing bubble, mortgage fraud flourished like the green bay tree. The same EZ lending, lax oversight and belief in non-stop real estate inflation which pumped subprime excess also helped fraudsters party hearty. Among the revelers was Emmanuel Constant. Aka “Toto” Constant. Currently of New York, formerly of Haiti. In February 2007, Constant pleaded guilty to grand larceny charges in the New York State Supreme Court in Brooklyn. The charges sprang from mortgage frauds committed in Brooklyn and on Long Island: they were part of a series of frauds committed by overlapping groups of organized mortgage crooks based in New York and New Jersey. Numerous lending and financial institutions were impacted, many of them major players. Some of the fraudulent loans were backed by the federal government. Most flowed into the secondary mortgage market to be repackaged as asset backed securities.
Toto Constant’s crimes could have sent him to jail for 5 to 15 years. But when Toto appeared in court for sentencing in mid May, lawyers representing the U. S. Department of Homeland Security and the New York State Office of the Attorney General requested that Justice Abraham G. Gerges sentence Constant to time served (10 months) and deport him to Haiti post haste. U.S. Immigrations and Customs Enforcement (ICE) backed up the request via letter.
Who is Toto and why are people saying such lenient things about him?
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