A Dix Hills man was charged Thursday with stealing more than $728,000 from more than 30 homeowners in Nassau, Suffolk and Westchester counties, as well as New York City, prosecutors said.
Mark Savransky, 56, also known as Mark Savran, surrendered to Nassau County district attorney investigators Thursday morning and was arraigned on 30 counts of grand larceny and a charge of scheme to defraud, officials said.
Nassau District Court Judge James Darcy set bail at $250,000 bond or $125,000 cash. Court records last night indicate he had not yet posted it.
Savransky's defense lawyer could not be reached Thursday and it was unclear whether he entered a plea. He faces up to 20 years in prison if convicted.
"This defendant preyed on vulnerable homeowners who had subprime mortgages and some of the victims nearly lost their homes," acting Nassau County District Attorney Madeline Singas said in a written statement. "The victims made honest attempts to renegotiate their mortgages, yet the defendant lied to them and stole more than $728,000 to line his pockets."
Savransky's victims included residents from Amityville, Baldwin, Bayside, Brentwood, the Bronx, Brooklyn, East Northport, and Farmingdale, prosecutors said.
Prosecutors said Savransky, who ran a mortgage modification business in Nassau County between 2008 and 2013, also is facing charges in a 2014 case in which he allegedly swindled a Hempstead couple out of more than $17,000 in mortgage payments he told them he'd make on their behalf.
The couple was facing foreclosure, officials said, and Savransky was hired to handle their mortgage modification. Prosecutors said Savransky didn't make the payments.
In the more recent cases, prosecutors said Savransky promised numerous homeowners that after securing modifications, he would hold their mortgage payments in trust -- then forward them to the financial institutions servicing their mortgages.
Instead, Savransky spent the money himself, using it for credit card payments, child support, car payments, gasoline, travel expenses, restaurants, groceries and Netflix charges, prosecutors said.
Savransky's clients were typically residential homeowners who had purchased their homes using a subprime adjustable rate mortgage sometime between 2006 and 2009, prosecutors said. When the payments became more than the homeowners could afford, they hired Savransky to help them get a mortgage modification, prosecutors said.
As a consequence of the mortgage payments not being made, lenders started to foreclose on the properties belonging to the Savransky's clients, prosecutors said. Prosecutors did not say how many foreclosures actually occurred.
He is due back in court Monday.