The Wanted by FBI New York page has been updated to include fugitive John Edos Star, who is wanted for his alleged involvement in a real estate fraud scheme. It is alleged that, from approximately 2003 to 2007, Star obtained real estate properties in New York and elsewhere through foreclosure auctions and other means. He then put these properties in the names of corporations which he controlled. Star then sold the properties from the corporations to straw buyers in illegal property flips. Star and his co-conspirators made numerous misrepresentations to the bank including the credit-worthiness of the borrower, falsified appraisals, and fraudulent title reports. Star pocketed the proceeds of the sales. The properties ultimately went into foreclosure, and the banks had little recourse to recover their loans as the true value of the properties was far below the amount of the loans.
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