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Prosecutors Say Real Estate Title Company Owner stole $6.7 Million in Fraud Scheme

By DNAinfo Staff on August 6, 2010 12:58pm

The owner of a real estate title company was indicted on charges he stole more than $6.7 million in the course of closing on property sales.
The owner of a real estate title company was indicted on charges he stole more than $6.7 million in the course of closing on property sales.
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By Shayna Jacobs

DNAinfo Reporter/Producer

MANHATTAN SUPREME COURT — The owner of a real estate title company was indicted on charges he stole more than $6.7 million in the course of closing on property sales, the Manhattan District Attorney said Thursday.

Laurence Lewitas, 47, allegedly diverted tax money and other fees from 105 real estate sales to other accounts, from which he could steal the money to be used for his own purposes, between November 2006 and April 2008, prosecutors said.

Lewitas, the owner of Gotham Abstract, LLC — a company that handles the transfer of deeds during property sales — used the stolen funds to replenish his personal bank account, the DA said.

He pleaded "not guilty" at his arraignment Thursday. His lawyer said he is completely innocent of the charges.

Laurence Lewitas stole $6.7 million through real estate transactions, prosecutors said Thursday.
Laurence Lewitas stole $6.7 million through real estate transactions, prosecutors said Thursday.
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Lewitas turned himself in to prosecutors on Thursday. He was held on $500,000 bond and is scheduled to reappear in court on Sept. 29.