Youngstown man guilty in million dollar real estate scheme - 21 News Now, More Local News for Youngstown, Ohio -

Youngstown man guilty in million dollar real estate scheme

Posted: Updated:
Ondrea Shabazz Ondrea Shabazz
AKRON, Ohio - The operator of a Valley real estate company has been convicted on federal charges of  real estate fraud, identification fraud and mail fraud.

47-year-old Ondrea Shabazz of Youngstown pleaded guilty on Thursday to two of the 59 counts handed up in an indictment last November.

Details of the plea agreement remain sealed.  His sentencing is set for September 3  in U.S. District Court in Akron.

According to Stephen D. Anthony, Special Agent in Charge of the FBI's Cleveland Field Office, Shabazz forged signatures to fraudulently obtain ownership of distressed, soon-to-be-demolished homes and sold them to his clients for a profit

The government said that Shabazz devised a scheme using false pretenses and promises to defraud real estate owners and others out of money and property.

Shabazz operated the Real Estate Investment Connection LLC which, according to the government, fraudulently obtained and resold distressed properties in the Youngstown area.

The indictment alleged that the company would create fraudulent deeds using forged signatures of owners or Notary Publics to obtain property that were foreclosed or targeted for demolition.

The government claims that Shabazz and others would then resell the property under false pretense that Real Estate Investment Connection legally owned the property.

In other instances, Shabazz allegedly acted as an intermediary to broker real estate transactions between property owners and an unsuspecting third party.

The indictment claims that Shabazz defrauded property owners and other out of money and property valued at more than $1 million.

Assistant U.S. Attorney David Toepfer did not reveal names of the alleged victims, but the indictment includes redacted information for 29 deeds, owners of 27 properties, and three Notary Publics who were victims of the alleged scheme.


  • More From wfmj.comMore>>

  • Group honors third Kennywood coaster as 'landmark'

    Group honors third Kennywood coaster as 'landmark'

    Monday, July 28 2014 9:07 AM EDT2014-07-28 13:07:05 GMT
    The group American Coaster Enthusiasts has named the Thunderbolt a "Coaster Landmark" - the third roller coaster to be so recognized at the Kennywood amusement park near Pittsburgh.More >>
    The group American Coaster Enthusiasts has named the Thunderbolt a "Coaster Landmark" - the third roller coaster to be so recognized at the Kennywood amusement park near Pittsburgh.
    More >>
  • Ohio offers extra hunting days for mourning doves

    Ohio offers extra hunting days for mourning doves

    Sunday, July 27 2014 1:45 PM EDT2014-07-27 17:45:29 GMT
    Ohio will allow extra days for hunting mourning doves this year.More >>
    Ohio will allow extra days for hunting mourning doves this year.
    More >>
  • Ohio authorities say 2 killed in small plane crash

    Ohio authorities say 2 killed in small plane crash

    Sunday, July 27 2014 1:38 PM EDT2014-07-27 17:38:30 GMT
    FINDLAY, Ohio (AP) - Authorities in northwest Ohio say two people have been killed in an overnight small plane crash. The Hancock County sheriff's office says the crash apparently occurred at about 1 a.m. EDT Sunday. Investigators were still at the scene Sunday and little other information was available immediately. The plane crashed near a county road just northeast of the city of Findlay. The city has a small general aviation airport, but authorities were still investigating where the plan...More >>
    FINDLAY, Ohio (AP) - Authorities in northwest Ohio say two people have been killed in an overnight small plane crash. The Hancock County sheriff's office says the crash apparently occurred at about 1 a.m. EDT Sunday. Investigators were still at the scene Sunday and little other information was available immediately. The plane crashed near a county road just northeast of the city of Findlay. The city has a small general aviation airport, but authorities were still investigating where the plan...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms