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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. …

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 114-count federal indictment unsealed Wednesday against Robert Morgan, Michael Tremiti, Todd Morgan and Frank Giacobbe alleges crimes were committed from 2007 through 2019 involving $285.65 million in mortgage loans in Buffalo, Rochester and Syracuse areas, as well as in Pennsylvania and Indiana. The charges carry a maximum penalty of 30 years in prison and fine of more …

Buffalo

The owner of the Canterbury Woods retirement communities in Amherst and Buffalo has sued the developer of the former Millard Fillmore Gates Circle Hospital for failing to complete a promised roadway and leaving an enormous pile of dirt and debris that disturbs nearby Canterbury residents. Episcopal Church Home & Affiliates filed a lawsuit in State Supreme Court in B…

Buffalo

There's new trouble for the owner of Buffalo's struggling Monarch 716 student-housing complex: A second similar large-scale complex aimed at a collegiate population is now embroiled in foreclosure. DHD Ventures – which is already facing foreclosure and numerous other financial, safety and public relations challenges in Buffalo – is now more than 90 days late on a $31.9 …

Buffalo

Robert C. Morgan's brother is suing him. Two of his company's loans are in danger of imminent default. And the developer faces a new hurdle if he wants to borrow money again. Strain is showing at Morgan Management, the Pittsford-based real estate empire with two executives facing federal fraud charges. Morgan Management in recent weeks sold four apartment complexes i…

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…

Buffalo

TM Montante Development and Morgan Communities are hoping to get started within the year on a proposal to build a six-story apartment building at Gates Circle, now that the city Planning Board has renewed its approval of the $15 million project. The developers intend to erect a six-story building at 1299 Delaware Ave., on part of the former Millard Fillmore Gates Circle…

Buffalo

TM Montante Development has acquired a Delaware Avenue office building near Gates Circlein a $1.95 million deal that would expand the geographic reach of its already-mammoth project to reuse the former Millard Fillmore hospital site nearby. TM Montante spokesman Byron DeLuke said Friday that the firm's "initial concept" for its new purchase involves an adaptive reuse of…