Senator William Stachowski (D-Buffalo, Lake View) and Assemblymember Sam Hoyt (D-Buffalo, Grand Island) joined Kathleen Lynch, Chair of the Anti-Flipping Task Force, today to announce that the Department of State has revoked the real estate broker’s license of James Graham of Genesis REI LLC.

 

“I am pleased that the Department of State has responded to our complaints against Mr. Graham by taking actions that will prevent him from engaging in fraudulent activity for the future. The tips we receive from community members about suspicious activities enable us to secure results such as this that will protect our neighborhoods from bad investors,” said Lynch.

 

Senator Stachowski said, "The AFTF has established working relationships with many agencies, organizations and individuals over the past four years, and our partners at the Department of State have proven to be effective advocates in preventing unscrupulous property management here in Buffalo.   We hope this sends a clear message that we will remain vigilant and continue to pursue those who prey on individuals looking to invest in our community."

 

“Over the last four years the Anti-Flipping Task Force has successfully curbed fraudulent, neighborhood-destroying activities by working with Senator Stachowski and me to effectively provide information to state agencies that can then take action to prevent future fraud by these unscrupulous individuals,” said Hoyt.

 

The Department of State’s findings against Graham include: failing to account for funds received or spent on behalf of clients, entering into property management agreements that were not met including bills that were not paid, misrepresenting the rental status of properties to clients, failing to maintain an escrow account as specified by law, selling properties to individuals without due disclosure, offering properties for sale prior to taking title, operating under an unlicensed brokerage name, and failing to satisfy a variety of liens.

Under the decision issued by the Department of State Graham was ordered to surrender his real estate broker’s license and his real estate brokerage license.

 

This is the fourth major success the Anti-Flipping Task Force has secured through working with partners in law enforcement and state regulatory agencies, which includes successful cases against Joseph Furan, East Coast Capital LLC, and Brent Kinney. East Coast Capital was closed through actions by Attorney General Andrew Cuomo. Kinney was convicted of fourth degree grand larceny for selling property he did not own and Furan was convicted of third-degree larceny, both for selling properties they did not own to out of town investors.  

 

The Anti-Flipping Task Force website is a resource for individuals and others. It offers resources and work done by the Task Force, including a multi-year foreclosure study for Erie County and foreclosure prevention efforts. Visit in line at: www.buffaloflipping.com