27east_logo Wow! This hits close to home and shows that ‘the man” is on the hunt. We’ll undoubtedly see more of this in the future.

Former Suffolk County Legislator George O. Guldi of Westhampton Beach and four other people were arraigned Wednesday for their alleged role in a $50 million mortgage fraud scheme targeting more than 50 properties on the East End.

see 27East.com story here

UPDATE: Daily News

S&M big Donald MacPherson says he bought Long Island homes as investment – but took a beating

UPDATE: East Hampton Star

D.A. Explains Mortgage Fraud Charges
Against Former Legislator and Six Others