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Buffalo

A suburban Rochester lender who has worked frequently with developer Robert C. Morgan is now turning on its embattled partner, suing Morgan in state court for failing to pay more than $9 million in unsecured loans related to Morgan's real estate ventures. Monroe Capital Inc., through its U.S. Income Partners LLC affiliate, filed suit in Monroe County Supreme Court late …

Business

The U.S. Attorney's Office wants to seize two Buffalo apartment complexes as part of its criminal case against Rochester developer Robert C. Morgan and three other defendants. The Securities and Exchange Commission wants to freeze Morgan's assets — including an investment fund that holds a loan for Morgan's interest in a redevelopment project at Gates Circle. One com…

Business

A lender for a Town of Tonawanda apartment complex whose owner is at the center of a federal mortgage fraud investigation wants to foreclose on the property after an auditor determined it also received false information. SteepRock Capital, in court documents, called loans for Raintree Island Apartments "toxic" because of the criminal case and accused the owners of provi…

Amherst

The federal fraud indictment that points an accusatory finger at two executives of Rochester's Morgan Management and two mortgage brokers also creates unwanted attention for two other players in Buffalo's real estate industry. While Brett Fitzpatrick and Aaron Siegel have not been charged or even named, last week's indictment alleges fraud occurred with one of their pro…

Business

The last of four Buffalo and Rochester defendants charged in an elaborate scheme to defraud lenders and investors out of millions of dollars in commercial real estate loans pleaded not guilty Tuesday morning to bank and wire fraud. Kevin Morgan, a vice president at Rochester-based Morgan Management and Morgan Communities, was arraigned before U.S. Magistrate Judge Kenne…

Local News

Todd Morgan, son of Rochester real estate developer Robert C. Morgan, pleaded not guilty Thursday morning in federal court in Buffalo to charges of bank and wire fraud following an indictment earlier in the week. Morgan, a project manager at Pittsford-based Morgan Management and Morgan Communities, barely spoke during the half-hour proceeding before U.S. Magistrate Judg…

Local News

Staged apartments. Fake loans and leases. And a woman who pretended she was a tenant but couldn't let inspectors into a bedroom because her boyfriend was "sleeping" there. The fraud charges leveled Tuesday against two Buffalo commercial mortgage brokers and two relatives of Rochester apartment mogul Robert Morgan shined a bright light on the underbelly of the murky worl…