NEW YORK – Two suspects pled guilty to charges related to their roles in a scheme to steal over $6 million in money obtained from banks through home mortgage loans for the purchase of residential properties, which funds were supposed to be used to pay off existing mortgages on the properties.

Eric Koppelman pled guilty to conspiracy to commit bank fraud.  Previously, in August 2009, Koppelman's co-conspirator, Irshad Ramzan, a/k/a "Tony," pled guilty to conspiracy to commit bank fraud.

Ramzan controlled the operations of a business called 44th Street Home Funding, Inc., which did business under the trade name "Platinum Funding". Platinum Funding was located in South Ozone Park, New York, and engaged in the business of, among other things, brokering retail real estate and mortgage transactions, that is, arranging for the sales of homes and arranging for home mortgage loans for persons wishing to purchase homes or refinance loans on existing homes in the State of New York.

Koppelman was an employee of Aegis America LLC ("Aegis"), the offices of which were in Manhattan. Aegis provided services in connection with the closings of the sales of residences in the State of New York.

From 2004 through October 2005, Koppelman and Ramzan engaged in a scheme to steal the funds obtained from banks as part of home mortgage loan transactions that were to be used to pay off various residential real estate transactions processed through Platinum Funding and/or Aegis.

Koppelman, 49, of Hauppauge, and Ramzan, 36, of Baldwin, are each charged with conspiracy to commit bank fraud. They each face a maximum sentence of 30 years in prison, as well as a fine and a term of supervised release.

Ramzan will be sentenced in March.  Koppelman will be sentenced in May.