A Bronx real estate agent has been indicted on charges of grand larceny and other crimes for allegedly defrauding a 70-year-old homeowner facing foreclosure, the Bronx District Attorney’s Office announced.
The agent reportedly convinced the victim to transfer ownership of his Baychester home under the guise of foreclosure protection and illegally collected over $60,000 in rental subsidies from the city.
District Attorney Darcel D. Clark said Kenneth Lester Floyd Jr., 63, of Prospect Avenue, exploited his position as a licensed professional to gain the trust of the elderly victim, ultimately depriving him of his home and financial security.
“The defendant, a licensed real estate agent, allegedly deceived a vulnerable elderly man who was facing foreclosure by promising assistance and a return of his property,” Clark said. “Licensed professionals are not immune from committing fraud. It is essential to research professionals before entrusting them with valuable assets.”
Floyd was arraigned on charges of second- and third-degree grand larceny, second-degree criminal possession of stolen property, second- and third-degree welfare fraud, and first-degree scheme to defraud before Bronx Supreme Court Justice Brenda Rivera. He is scheduled to return to court on March 6, 2025.
The investigation revealed that in 2019, victim Garnett Miller, 70, was referred to Floyd for help with saving his two-family house on Fish Avenue from foreclosure. Floyd allegedly invited Miller to his office on Prospect Avenue, where he persuaded Miller to transfer ownership of the property to a trust controlled by Floyd. He promised Miller that the transfer was temporary and would help secure foreclosure protection, assuring the elderly man that the property would be returned in six to nine months. Floyd charged Miller $5,000 for the supposed service.
Floyd also allegedly claimed he would find tenants to help pay off the mortgage arrears. However, after Miller transferred ownership of his home on June 20, 2019, Floyd rented out the property to a tenant on November 30, 2019. Floyd then collected over $60,000 in rental subsidies from the city’s Family Homelessness and Eviction Prevention Supplement (cityFHEPS) program. Despite these payments, Floyd did not make any mortgage payments or return the property to Miller.
Miller, who continues to reside in the home, is reportedly battling Floyd in civil court to reclaim ownership.
District Attorney Clark cautioned residents to thoroughly vet licensed professionals, particularly in cases involving significant assets like real estate.
“Simply because someone is a licensed professional does not mean they are above committing fraud,” Clark said. “Check for complaints or reviews online before making a decision.”
Kcassman