The New York Law Journal by Mark Fass
A Long Island lawyer has been charged with participating in a mortgage fraud scheme where seven conspirators used straw buyers and falsified documents to secure mortgages totalling $2 million. The Brooklyn District Attorney's Office yesterday charged seven people, including Melville solo-practitioner Ralph Pecorale, with conspiring to fraudulently buy and sell the same vacant Bedford-Stuyvesant home as many as five times, using false employment and financial documents and, on one occasion, a stolen identity. According to the indictment, Mr. Pecorale represented the banks in each of the transactions, purposefully misleading them into granting the loans. The defendants have each been charged with grand larceny and conspiracy and face up to 15 years in prison, according to the district attorney. Mr. Pecorale graduated from Touro Law Center in 1998 and specializes in real estate. He is also an accomplished poker player, having placing second in the U.S. Poker Championship in 2005.