Superseding Information — United States of America v. Joshua Feldberger, Case No. 24-528
Summary
A Superseding Information in United States v. Joshua Feldberger, Criminal No. 24-528 (ESK), in the U.S. District Court for the District of New Jersey, filed after he waived prosecution by indictment and charging conspiracy to commit bank fraud under 18 U.S.C. § 1349. It opens with background on mortgage lending through lenders and mortgage originators. The Information alleges that from about November 2019 through about July 2020 Feldberger conspired with Arthur Spitzer, Mendel Deutsch and others in connection with mortgage financing for the Malcolm X Properties, which the Malcolm X Blvd LLCs bought in or around July 2019 without a mortgage loan. It states that a Bank-1 loan of $4,500,000 required Deutsch to bring approximately $2,300,000 to closing, and alleges a false email to Bank-1 on or about June 25, 2020.
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Full text
2024R00796-DAF-ETW
UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
UNITED STATES OF AMERICA :
: Criminal No. 24-528 (ESK)
v. :
: 18 U.S.C. § 1349
JOSHUA FELDBERGER :
SUPERSEDING INFORMATION
The defendant having waived in open court prosecution by Indictment, the
United States charges:
COUNT 1
(Conspiracy to Commit Bank Fraud)
1. At all times relevant to this Superseding Information:
Mortgage Lending
a. Mortgage loans were loans made by banks and other financial
institutions to borrowers: (a) in connection with the purchase of real estate; or (b) in
connection with the refinancing of real estate. Mortgage loans were secured by the
real estate property such that if the borrower defaulted on the loan, the lender
would have the ability to seek foreclosure of the real estate property securing the
loan.
b. A mortgage loan borrower typically applied for a mortgage loan
through a mortgage lender or a mortgage originator. If a borrower applied directly
with a mortgage lender, the borrower would provide documentation directly to the
mortgage lender and the mortgage lender would directly fund the loan. If a
borrower applied with a mortgage originator, sometimes the mortgage originator
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would make the initial loan to the borrower and then sell the loan to a mortgage
lender after a short period of time. Other times, the mortgage originator would
obtain and verify the relevant information for a mortgage lender, and then the
mortgage lender would issue the mortgage loan directly to the borrower. The
information submitted by a borrower was material to the mortgage lender’s decision
whether or not to extend a mortgage loan.
c. A mortgage loan typically was closed by a settlement agent. The
settlement agent was responsible for receiving monetary instruments and funds
provided by the borrower and mortgage funds from the lender to the title company’s
escrow account, and, when authorized by the parties to the transaction and the
lender, for disbursing those funds from the escrow account to various individuals
and entities, as detailed on the U.S. Department of Housing and Urban
Development Settlement Statement (hereinafter “HUD-1 Settlement Statement”).
The HUD-1 Settlement Statement detailed the actual disbursement of monies,
including mortgage fund loans, to the proper entities and/or individuals. The HUD-
1 Settlement Statement was required to accurately disclose the receipt and
disbursement of all monies involved in a real estate transaction, including whether
any monies were being used to pay off existing loans. The borrower and a
representative of the title company typically signed the HUD-1 Settlement
Statement affirming that it was true and accurate.
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Individuals and Entities
d. Defendant JOSHUA FELDBERGER was a resident of
Lakewood, New Jersey. Defendant JOSHUA FELDBERGER owned Settlement
Company-1, a title and real estate settlement company located in Lakewood, New
Jersey.
e. Arthur Spitzer, who was a co-conspirator but is charged
elsewhere, was a resident of Toms River, New Jersey
f. Mendel Deutsch, who was a co-conspirator but is charged
elsewhere, was a resident of Toms River, New Jersey.
g. 306 Malcolm NY LLC was a New York entity controlled by
Mendel Deutsch (the “Deutsch LLC”).
h. The “Malcolm X Properties” were three mixed-use commercial
and residential buildings located on Malcolm X Boulevard in Brooklyn, New York.
i. Bank-1 was engaged in the business of making mortgage loans
and therefore was a “financial institution” within the meaning of Title 18, United
States Code, Section 20.
j. Bank-2 was a “financial institution” within the meaning of Title
18, United States Code, Section 20.
k. Bank-3 was a “financial institution” within the meaning of Title
18, United States Code, Section 20.
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l. Deutsche Equity LLC was a New York company controlled by
Mendel Deutsch. Deutsche Equity LLC had a bank account at Bank-2, whose sole
signatory was Deutsch.
m. BSD Realty Holdings, Inc. was a New Jersey company controlled
by SPITZER. BSD Realty Holdings, Inc. had a bank account at Bank-3, and
SPITZER was a signatory on this account.
n. Company-1 was a New York limited liability company.
o. Individual-1 was a resident of New York.
p. The Fedwire Funds Service (“Fedwire”) was a real-time gross
settlement system that enabled participants to transfer funds from one financial
institution to another financial institution. Every Fedwire funds transfer involved
an exchange of electronic communications between Federal Reserve facilities in
New Jersey and Texas.
The Conspiracy
2. From in or about November 2019 through in or about July 2020, in
Ocean County in the District of New Jersey, and elsewhere, the defendant,
JOSHUA FELDBERGER,
did knowingly and intentionally conspire and agree with Arthur Spitzer, Mendel
Deutsch, and others to execute and attempt to execute a scheme and artifice to
defraud a financial institution, Bank-1, and to obtain moneys, funds, credits, assets,
securities, and other property owned by, and under the custody and control of,
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Bank-1, by means of materially false and fraudulent pretenses, representations,
and promises, contrary to Title 18, United States Code, Section 1344.
Goal of the Conspiracy
3. The goal of the conspiracy was for defendant JOSHUA FELDBERGER,
Arthur Spitzer, and Mendel Deutsch to financially enrich themselves and satisfy
outstanding debts by fraudulently obtaining a $4,500,000 mortgage loan from Bank-
1 that was secured by the Malcolm X Properties.
Manner and Means of the Conspiracy
4. It was part of the conspiracy that in or around July 2019, 306A
Malcolm X Blvd LLC, 306 Malcolm X Blvd LLC, and 308 Malcolm X Blvd LLC (the
“Malcolm X Blvd LLCs”), purchased the Malcolm X Properties. No mortgage loan
was obtained in connection with the purchase.
5. It was further part of the conspiracy that the operating agreements for
the Malcolm X Blvd LLCs provided that the sole member of each entity was
Company-1. The operating agreements further provided that Individual-1 was an
authorized signatory who was authorized only to execute documents in connection
with the July 2019 purchase of the Malcolm X Properties.
6. It was further part of the conspiracy that between in or about
November 2019 and in or about March 2020, Arthur Spitzer and Mendel Deutsch
engaged in discussions with representatives of the Malcolm X Blvd LLCs about
purchasing the Malcolm X Properties from the Malcolm X Blvd LLCs. These
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discussions did not result in any agreement to sell the Malcolm X Properties to
Spitzer and Deutsch.
7. It was further part of the conspiracy that notwithstanding the lack of
agreement to sell the Malcolm X Properties to Spitzer and Deutsch, Spitzer and
Deutsch devised and executed a scheme to obtain a mortgage loan secured by the
Malcolm X Properties by making it appear to Bank-1 as if Spitzer actually owned
the Malcolm X Properties and that Spitzer had agreed to sell the Malcolm X
Properties to an entity controlled by Deutsch (the Deutsch LLC).
8. It was further part of the conspiracy that Mendel Deutsch, through the
Deutsch LLC, applied for a mortgage loan from Bank-1 in connection with his
purported purchase of the Malcolm X Properties.
9. It was further part of the conspiracy that Spitzer and Deutsch engaged
Settlement Company-1 to be the title and settlement company for the transaction
conveying the Malcolm X Properties to the Deutsch LLC and in which Deutsch
obtained a mortgage loan from Bank-1. Defendant FELDBERGER oversaw
Settlement Company-1’s activities in connection with this transaction. Defendant
FELDBERGER and other Settlement Company-1 employees were located in New
Jersey when they worked on the Malcolm X transaction.
10. It was further part of the conspiracy that defendant JOSHUA
FELDBERGER, Spitzer, and Deutsch made or caused to be made material
misrepresentations to Bank-1 in connection with Deutsch’s application for a
mortgage loan secured by the Malcolm X Properties. For example, between in or
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about January 2020 and in or about June 2020, defendant FELDBERGER created
and caused to be created letters stating that Deutsch already had deposited sizable
funds into Settlement Company-1’s escrow account to be used towards the purchase
of real estate properties. Spitzer and Deutsch caused these letters to be sent to
Bank-1 to support Deutsch’s application for a mortgage loan secured by the
Malcolm X Properties. In fact, Deutsch had not deposited the stated funds into
Settlement Company-1’s escrow account.
11. It was further part of the conspiracy that in or about June 2020,
Spitzer signed documents on behalf of the Malcolm X Blvd LLCs to obtain a short-
term loan of more than $1,000,000. The loan documents were signed by Spitzer on
behalf of the Malcolm X Blvd LLCs even though Spitzer was not a member of the
Malcolm X Blvd LLCs and had no authority to borrow money on behalf of the
Malcolm X Blvd LLCs. The short-term loan documents were notarized by defendant
FELDBERGER.
12. It was further part of the conspiracy that defendant FELDBERGER,
Spitzer, and Deutsch caused to be created, and used, documents containing the
forged signature of Individual-1 to facilitate the transaction:
a. On or about June 11, 2020, Deutsch emailed a “time of essence”
letter to his mortgage broker, which was then forwarded to Bank-1.
The “time of essence” letter stated that the seller of the Malcolm X
Properties was ready to close the sale of the Malcolm X Properties
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to Deutsch. The “time of essence” letter was purportedly signed by
Individual-1 but was not actually signed by Individual-1.
b. Spitzer and defendant FELDBERGER used a document, dated
August 2019, purportedly assigning membership in the Malcolm X
Blvd LLCs from Individual-1 to Spitzer (the “Fake Assignment”).
The Fake Assignment made it appear as if Spitzer owned the
Malcolm X Properties and therefore could “sell” the Malcolm X
Properties to Deutsch. The Fake Assignment was not actually
signed by Individual-1 and was created, not in August 2019, but
rather, on a date after the Malcolm X transaction already had
closed.
13. It was further part of the conspiracy that according to the HUD-1
Settlement Statement, the purchase price for the purported sale of the Malcolm X
Properties from Spitzer to Deutsch was $6,000,000, the amount of the loan from
Bank-1 was $4,500,000, and Deutsch was required to bring approximately
$2,300,000 to the closing.
14. It was further part of the conspiracy that on or about June 25, 2020,
defendant FELDBERGER caused a Settlement Company-1 employee to falsely state
in an email sent to a representative of Bank-1 that Deutsch already had provided
the required funds to Settlement Company-1. Bank-1 then wired the loan proceeds
of approximately $4,061,368.47 to Settlement Company-1 on or about June 25,
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2020. In fact, Settlement Company-1 had not received the required funds from
Deutsch on June 25, 2020.
15. It was further part of the conspiracy that after Settlement Company-1
received the mortgage proceeds from Bank-1, Spitzer, Deutsch, and defendant
FELDBERGER engaged in a series of monetary transactions that had the effect of
allowing Spitzer and Deutsch to purchase the Malcolm X Properties and obtain the
Bank-1 mortgage loan without using any of their own money, as set forth below:
a. On or about June 26, 2020, defendant FELDBERGER wired
approximately $1,000,000 of the Bank-1 mortgage proceeds to
Spitzer’s company, BSD Realty Holdings, Inc. These funds were
then wired from BSD Realty Holdings, Inc. to Deutsch’s company,
Deutsche Equity, which then sent them by wire and check back to
Settlement Company-1 as a portion of Deutsch’s approximately
$2,300,000 down payment for the same transaction for which the
mortgage loan was being obtained. Specifically, Spitzer, Deutsch,
and defendant FELDBERGER engaged in the following monetary
transactions:
Approximate Approximate Description
Date Amount
6/26/2020 $800,000 and Interstate wire, sent through the Fedwire
$200,000 system, from Settlement Company-1’s escrow
account at Bank-3 to Spitzer’s BSD Realty
Holdings bank account at Bank-3.
7/2/2020 $500,000, Interstate wire, sent through the Fedwire
$300,000, and system, from Spitzer’s BSD Realty Holdings
$200,000 bank account at Bank-3 to Deutsch’s
Deutsche Equity bank account at Bank-2.
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7/2/2020 $300,000 and Interstate wire, sent through the Fedwire
$200,000 system, from Deutsch’s Deutsche Equity
bank account at Bank-2 to Settlement
Company-1’s escrow account at Bank-3.
7/2/2020 $411,348,80 Check from Deutsch’s Deutsche Equity bank
account at Bank-2, signed by Deutsch, and
deposited into Settlement Company-1’s
escrow account at Bank-3.
b. On or about July 2, 2020, Spitzer and Deutsch caused another
individual, Individual-2, to wire the balance of Deutsch’s down
payment—approximately $1,400,000—to Settlement Company-1.
On or about July 2, 2020, defendant FELDBERGER wired a portion
of the Bank-1 mortgage proceeds to BSD Realty Holdings, Inc.
Spitzer subsequently used these mortgage proceeds to repay
Individual-2. Specifically, Spitzer, Deutsch, and defendant
FELDBERGER engaged in the following monetary transactions:
Approximate Approximate Description
Date Amount
7/2/2020 $1,400,000 Interstate wire, sent through the Fedwire
system, from Individual-2’s bank account at
Bank-2 to Settlement Company-1’s escrow
account at Bank-3.
7/2/2020 $1,000,000 and Interstate wires, sent through the Fedwire
$1,250,000 system, from Settlement Company-1’s escrow
account at Bank-3 to Spitzer’s BSD Realty
Holdings bank account at Bank-3.
7/3/2020; $250,000; Interstate wires, sent through the Fedwire
7/6/2020; $500,000; system, from Spitzer’s BSD Realty Holdings
7/24/2020; $50,000; $75,000 bank account at Bank-3 to Individual-2’s bank
7/28/2020 account at Bank-2.
16. It was further part of the conspiracy that the proceeds of the Bank-1
mortgage loan were disbursed for the benefit of Spitzer, Deutsch, and defendant
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FELDBERGER. As described above, a significant portion of the Bank-1 mortgage
proceeds was used to fund Deutsch’s down payment. Approximately $100,000 of the
proceeds was disbursed to a relative of defendant FELDBERGER to repay a loan he
had made to Spitzer. Most of the remaining loan proceeds were disbursed to BSD
Realty Holdings Inc. and used for Spitzer’s benefit.
17. It was further part of the conspiracy that Spitzer, Deutsch, and
defendant FELDBERGER signed the HUD-1 Settlement Statement for the Malcolm
X transaction even though it did not disclose the material facts that more than
$1,000,000 of the funds were being disbursed to pay off the short-term loan, that
Deutsch did not actually provide the required funds to close the transaction on the
closing date, and that Spitzer did not actually own the Malcolm X Properties.
Bank-1 would not have approved and funded this mortgage loan had it known these
facts.
18. It was further part of the conspiracy that Spitzer and Deutsch caused
the Bank-1 mortgage loan to default by failing to make the required payments.
In violation of Title 18, United States Code, Section 1349.
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FORFEITURE ALLEGATION
1. The allegations contained in Count 1 of this Superseding Information
are hereby realleged and incorporated by reference for the purpose of alleging
forfeiture pursuant to Title 18, United States Code, Section 982(a)(2)(A).
2. As a result of committing the conspiracy offense charged in Count 1 of
this Superseding Information, defendant JOSHUA FELDBERGER shall forfeit to
the United States, pursuant to Title 18, United States Code, Section 982(a)(2)(A),
any property, real or personal, said defendant obtained that constitutes or is
derived from proceeds traceable to the offense charged in Count 1 of this
Superseding Information.
SUBSTITUTE ASSET PROVISION
3. If any of the property described above, as a result of any act or
omission of the defendant:
a. cannot be located upon the exercise of due diligence;
b. has been transferred to or sold to, or deposited with, a third party;
c. has been placed beyond the jurisdiction of the court;
d. has been substantially diminished in value; or
e. has been commingled with other property which cannot be divided
without difficulty;
it is the intent of the United States, pursuant to Title 21 United States Code,
Section 853(p), as incorporated by Title 18 United States Code, Section 982(a)(1)
and Title 28 United States Code, Section 2461(c), to seek forfeiture of any other
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property of such defendant up to the value of the forfeitable property described
above.
JAMES MCHENRY
U.S. ASSOCIATE DEPUTY ATTORNEY GENERAL
ALINA HABBA
ACTING UNITED STATES ATTORNEY
SPECIAL ATTORNEY
Daniel A. Friedman
Assistant United States Attorney
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CASE NUMBER: 24-CR-528 (ESK)
═════════════════════════════════
United States District Court
District of New Jersey
═════════════════════════════════
UNITED STATES OF AMERICA
v.
JOSHUA FELDBERGER
═════════════════════════════════
SUPERSEDING INFORMATION FOR
18 U.S.C. § 1349
═════════════════════════════════
JAMES MCHENRY
U.S. ASSOCIATE DEPUTY ATTORNEY GENERAL
ALINA HABBA
ACTING UNITED STATES ATTORNEY
SPECIAL ATTORNEY
═════════════════════════════════
DANIEL A. FRIEDMAN
ELISA T. WIYGUL
ASSISTANT U.S. ATTORNEYS
CAMDEN, NEW JERSEY
(856) 757-5026
═════════════════════════════════
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