home > the scene > real estate

Shooting Craps Better Than Brooklyn Real Estate?: The Brooklyn "ringleaders of a massive...

Wednesday, Jul 29, 2009 | Updated 9:58 AM EDT

The Brooklyn "ringleaders of a massive mortgage scam" like to shoot craps. Not only that, they got comped as high rollers in Atlantic City gambling more than $400K of the cash they "swindled from slipshod subprime lenders tied to the current financial crisis." The dudes apparently really dug shooting craps and enjoyed doing so at the Tropicana and Borgata. They took 29 trips in '05 and '06 with cash conned from lenders like the esteemed Countrywide and WaMu. Craps "can evidently be construed as a severe addiction." It's unclear why they figured craps was a better bet than investing the scammed money in Brooklyn real estate. [NYP]

For more stories from Curbed, go to curbed.com.