D.A. Bragg Announces Prison Sentence for Real Estate Broker Who Exploited Elderly Victim To Obtain Fraudulent Mortgage Loans

June 14, 2022

Manhattan District Attorney Alvin L. Bragg, Jr., today announced the sentencing of LYNDON CHIN, 58, to 1-3 years in state prison for using a 91-year-old man’s real estate properties to fraudulently obtain $8.5 million in unauthorized mortgage loans. CHIN previously pled guilty to two counts of Grand Larceny in the First Degree.

“Mr. Chin blatantly took advantage of an elderly victim in order to line his own pockets,” said District Attorney Bragg. “The unfortunately reality is that these types of cases are all too familiar against seniors, who are often viewed as easier targets for fraud, and I encourage those impacted to call our Elder Abuse Unit at 212-335-9007. Our older New Yorkers deserve to have their hard-earned savings protected, and we will continue to crack down on these schemes in any form they take.”

As stated during CHIN’S guilty plea and documents filed in court, CHIN had acted as a real estate broker for the 91-year-old victim in prior real estate transactions. In that capacity, the defendant helped the victim with the purchase and sale of residential and commercial real estate and had knowledge of the victim’s properties and the corporation through which he owned them.

In October 2015, CHIN used his knowledge of the victim’s real estate holdings to falsify documents in the name of the victim’s company and obtain $5 million in mortgage loans on four of the victim’s Lower Manhattan properties without his knowledge. CHIN then opened a bank account in the name of the victim’s corporation and deposited approximately $4.4 million of the fraudulently obtained funds into that account. A large portion of the funds was paid to at least 20 personal and corporate bank accounts, including accounts belonging to members of the defendant’s family, and the remainder was used to cover personal expenses such as car payments, insurance payments, and jewelry.

From March through May 2016, CHIN secured another $3.5 million in mortgage loans using similar means and deposited approximately $1.9 million into a bank account that he had opened specifically to receive the funds, before transferring the funds into a different account that he controlled.

The conduct was uncovered and the matter was referred to the Manhattan District Attorney’s Office after the victim was rejected for a mortgage loan on an unrelated business opportunity due to the existing mortgages that the defendant had fraudulently obtained on his properties.

Former Assistant D.A.s Caitlin Naun and Brandon Burkhart and ADA Marques Brooks handled the prosecution of the case under the supervision of Executive Assistant D.A. Gloria Garcia, Deputy Chief of the Investigations Division, Investigator Michael O’Brien, Financial Investigator Elaine Li. Chief of the Forensic Accounting and Financial Investigations Bureau Robert Demarest also provided valuable assistance on the case

Defendant Information:
Northport, NY


  • Grand Larceny in the First Degree, a class B felony, two counts


  • 1-3 years in state prison