Isaac Toussie [SEP] convicted of
Isaac Toussie
Isaac Robert Toussie (born 1971) is a Brooklyn, New York real estate developer convicted of fraudulently obtaining mortgages from the Department of Housing and Urban Development. On December 23, 2008, Toussie was granted a pardon by President George W. Bush; however, this pardon was revoked the following day, amid controversy over its apparent impropriety.
Crimes and conviction.
Toussie entered the real estate business with his father, Robert Toussie, in 1993. In 1999, Isaac Toussie was charged with making false statements
, he was fined $10,000.
Isaac Toussie and his father are among the co-defendants in an ongoing class action suit, filed in 2001 by 400 families who claim they were sold shoddily-constructed properties at inflated prices, and told that property taxes would be reduced or deferred. Homeowners paid between US$160,000 and $200,000 for the Suffolk County and Staten Island homes. The suit is the largest ever real estate discrimination suit in New York State.
Toussie placed advertisements in New York City newspapers, offering affordable