Hamptons Real Estate | < 1 minute read
Hamptons: Homes of accused participants in $50 million mortgage fraud scheme put up for auction
BY PropertyShark Staff | Feb 16, 2010
98 Bridies Path and 191 Shinnecock Hills Road, both located in Southampton, are the properties scheduled for auction in March 2010 with the highest lien amount. According to our foreclosure records the defendants of the scheduled properties are Carrie Coakley and Donald Macpherson.
According to the NY Daily News, the owners of a renowned club in Soho, Carrie Coakley and Donald Macpherson, are allegedly tied to a $50,000,000 fraudulent mortgage scam. Carrie Coakley bought 98 Bridies Path in 2005 for $2,300,000 according to our records, but may have used fraudulent mortgage practices reports the National Mortgage News. Our records also show the mortgage value for Donald Macpherson’s 191 Shinnecock Hills Road to be $975,000.
The alleged mortgage fraud spree involved several dozen East End homes reports the Sag Harbor Express. Among these are 1106 North Sea Road, which was scheduled for auction last year though no deed has yet been filed to confirm the sale, and 982 Noyac Path.
A lis pendens was filed against 982 Noyac Path in July 2009 and the property is currently listed for sale by Brown Harris Stevens for $3,000,000.
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