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Buffalo

TM Montante Development is on the verge of buying out embattled developer Robert C. Morgan from the first piece of the Gates Circle project. Federal prosecutors and attorneys for Morgan, his son and his nephew reached an agreement this week to allow the Morgans to sell back their 50% stake in a former medical office building at 1275 Delaware Ave. to Montante, without fe…

Business

Federal prosecutors investigating Rochester real estate developer Robert C. Morgan issued three more subpoenas in recent months and seized a computer server belonging to his former company as they continue their mortgage-fraud investigation. Prosecutors say the subpoenas aren't connected to the current 114-count indictment against Morgan and three other defendants – inc…

Buffalo

Morgan Communities, the real estate company owned by embattled Rochester developer Robert C. Morgan, has completed the sale of about half of its portfolio –  about 80 properties, including five in the Buffalo area – to a similarly named, but separate firm in Pennsylvania. The deal with Morgan Properties of King of Prussia, Pa., includes 15,000 apartment units, across ei…

Business

A Rochester developer who faces federal mortgage fraud charges connected to apartments in Buffalo and other cities has pushed back the sale of a significant part of his real estate portfolio until later this month. Robert C. Morgan now expects to complete the sale to a joint venture with a Pennsylvania company by the middle of this month, according to his attorney, gene…

Business

Rochester developer Robert C. Morgan is already free to sell or transfer his properties without interference from government prosecutors, even without a desired court order, a federal court said this week. Attorneys for Morgan and other developers had sought the court's intervention because they said the government's words and actions were hindering their ability to sel…

Business

National mortgage finance company Fannie Mae and a major provider of title insurance for commercial properties are ordering extra scrutiny for any new purchase or refinance transactions involving properties owned by Rochester developer Robert C. Morgan. The new directives from Washington, D.C.-based Fannie Mae and Stewart Title Insurance Co. demonstrate a tightening of …

Business

Robert C. Morgan, the embattled Rochester developer who faces federal mortgage fraud charges, has transferred about half of his properties to a joint venture with a Pennsylvania company, according to court documents. An affiliate of the joint-venture partner also has taken over management of at least one of the properties, according to the documents. The joint-ventur…

Buffalo

Rochester developer Robert C. Morgan has sold the Cheektowaga property containing the area's first Chick-fil-A restaurant, reaping $2.825 million in cash from the deal. Morgan — through Morgan Cheektowaga LLC — sold the restaurant at 1753 Walden Ave. to Bruce 5 LLC, which is controlled by Bernadette O'Connor of Long Island City in Queens. Located just west of the Wal…

Business

If the Securities and Exchange Commission was hoping for quick action against Robert C. Morgan, there are signs it won’t get its way. The federal agency last month filed a securities fraud lawsuit against the Rochester developer, accusing him of running a “Ponzi-scheme-like" operation that used newer investments to pay off earlier investors and loans instead of buying p…

Business

A federal judge on Wednesday denied a request by the U.S. Securities and Exchange Commission to freeze the assets of Rochester developer Robert C. Morgan as the government pursues its securities fraud case against him. But U.S. District Court Judge Elizabeth Wolford allowed other protections, including issuing a temporary restraining order barring litigation against Mor…

Watchdog

Mike Donoghue has known Rochester developer Robert Morgan for more than a decade, as a personal friend and a partner in a relocation business. So it was only natural five years ago for the owner and president of Rochester-based Premium Mortgage to put $500,000 of his own money into investment funds that Morgan had just started. "I knew he had funds, and I asked if I co…

Buffalo

Rochester developer Robert C. Morgan is facing criminal charges and a separate federal lawsuit accusing him of mortgage, insurance and securities fraud. Now, an attempt by the Securities and Exchange Commission to freeze Morgan's assets has made it difficult for him to retain a defense team, attorney Joel M. Cohen told a federal magistrate on Wednesday. Morgan, found…

Business

One of the nation's largest commercial banks is now trying to foreclose on two of Robert C. Morgan's apartment complexes in upstate New York – including the Raintree Island Apartments in the Town of Tonawanda – even as a federal grand jury indicted Morgan and his finance director on mortgage and insurance fraud charges. U.S. Bank, a subsidiary of Minneapolis-based U.S. …

Crime

An Amherst man has become the first person arrested in Erie County for violating a five-year-old public health law regarding lead paint. But it's not his first brush with the law. Maxim Levin, 41, was arrested Tuesday on charges he continued to rent out an apartment where lead paint exposure was present. Last week, the Belarus native was sentenced to 21 months in …