David Saks: Lawyer Steals Money from Real Estate Sales

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Lawyer Steals Money from Real Estate Sales

Lawyer Steals Money from Real Estate Sales

Bruce Mogavero,

41, Eastchester, New York,

pled guilty to stealing funds held in escrow from the sale of real property.

Between August 26, 2008 and April 28, 2010, the defendant stole approximately $270,000 in United States currency from the proceeds of the sale of a house in the Village of Tuckahoe. The defendant received a check for $455,000 for the sale the house on Oakland Avenue, Village of Tuckahoe, New York, and the money was to be kept in the defendant’s escrow account until the sellers had reached a settlement regarding a divorce proceeding. The defendant deposited this check into his escrow account, and converted over $270,000 of the funds for his own personal use.

Between March 1, 2010 and July 1, 2010, the defendant stole $82,700 in United States currency from a client he represented in the sale of an apartment in Yonkers, New York. The defendant received an $84,257.09 check for his client for the sale of the client’s apartment. The defendant deposited this check into his escrow account, but failed to turn over any of the money to his client and instead converted $82,700.00 of the funds for his own personal use.

Between August 26, 2008 and January 1, 2011 the defendant stole money from nine additional individuals while he was either serving as an attorney for the individuals or as an attorney involved in a transaction or proceeding involving the individuals.

The defendant’s actions were conducted without the permission, authorization or knowledge of his clients.

Upfront restitution in the amount of a lump sum $169,350 will be paid at time of sentencing.

Judgment Orders of Restitution for the clients, less the upfront money, will be payable through the Department of Probation and will be executed at time of sentencing.

Sentencing will be on October 25th, 2011.

The defendant is facing a maximum sentence of five to fifteen years in state prison.

Westchester County District Attorney Janet DiFiore announced the guilty plea. 

Assistant District Attorney Berit Huseby of the Public Integrity Bureau, is prosecuting the case.

Courtesy Mortgage Fraud Blog

David Saks

Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.


Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.





"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


  Real Estate Crimes


Click "HERE" For Today's Question



TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis



America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • August 24 2011 10:23AM


This blog does not allow anonymous comments