Monsey - A former business associate of a fellow Monsey man
who supposedly bribed Spring Valley and New York City officials for the FBI is
scheduled for trial next month on federal mortgage fraud-related charges
involving the purchase of 11 shopping centers.
Ephraim Frenkel’s trial is scheduled for Feb. 18 in U.S.
District Court on charges involving a $126 million loan FBI undercover operator
Mark Moses Stern received from Citigroup in 2007.
Stern is not charged in the indictment due primarily to his
cooperation with federal authorities.
Frenkel has pleaded not guilty to two counts of wire fraud
and one count of attempt and conspiracy to commit mail fraud.
Stern pleaded guilty in March 2013 to a still-sealed federal
charge while working off a sentence for the FBI.
As a federal witness, Stern enticed New York City Republican
officials to take thousands of dollars in cash to fix the GOP mayoral
nomination for Sen. Malcolm Smith, D-Queens, according to federal court papers.
In return for bribing Bronx GOP Chairman Joseph “Jay” Savino
of Clarkstown, Queens GOP Vice Chairman Vincent Tabone and City Councilman Dan
Halloran, Smith agreed to funnel $500,000 from Albany to Spring Valley for an
unspecified road project, according to the federal complaint.
Savino, fired as a tax lawyer for Clarkstown after his
arrest, has pleaded guilty and is cooperating with the FBI and prosecutors.
Stern also pitched construction of kosher catering facility
in the large drainage ditch in front of Spring Valley Village Hall on Route 45.
He enticed votes from former Spring Valley Deputy Mayor Joseph Demarest to back
him as developer for $10,500 and former Mayor Noramie Jasmin’s support for a 50
percent ownership in the business, according to federal charges.
Desmaret and Jasmin have pleaded not guilty to federal
charges of wire fraud and Hobbs Act Extortion. They are scheduled for court on
Jan. 31.
By Steve Lieberman - Lohud
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