Syed Babar swindled mortgage lenders out of $4.75 million. A federal judge Monday ordered him to pay it all back — and serve 10 years in prison.
Babar was the ringleader of a mortgage fraud conspiracy that bilked government and private lenders out of millions and left a string of blighted houses in New Haven and elsewhere. The 29-year-old New Londoner was sentenced to 10 years in federal prison on Monday by Chief United States District Judge Alvin W. Thompson in Hartford.
Babar’s fraud ring involved 15 members, including a former state legislator and city alderman. All 15 either pleaded guilty or were found so by a jury, with the exception of accused conspirator David Avigdor, a New Haven rabbi and attorney. He walked after jurors couldn’t agree on his guilt or innocence. He’s scheduled to be tried again in February.
Previous coverage of this case:
• “Big Liberal” Gets 5 Years For Ripping Off Poor
• White-Collar Criminals Sent To Slammer
• Judge Baffled By Two Morris Olmers
• Feds Will Retry Avigdor
• 4 Convicted In Fraud Scam; Mistrial For Rabbi
• Jury Can’t Agree In Scam Trial
• Avigdor’s Final Plea: Follow The Money
• Claire: The Rabbi Is Kosher
• Wednesday The Rabbi Took The Stand
• Straw Buyer Lured Into A Wild Ride
• After Big Fish Plead, Smaller Fry Point Fingers
• Slum-Photo Doctor Makes A Call
• What Happened At Goodfellas Didn’t Stay At Goodfellas
• Fraud Trial Opens With Oz-Like Yarn
• “Partying” MySpacer Lined Up Scam Homebuyers
• “Straw Buyer” Pleads Guilty
• Neighbors, Taxpayers Left With The Tab
• FBI Arrests Police Commissioner, Slumlord, Rabbi
• One Last Gambit Falls Short
• Was He In “Custody”?
• Is Slum Landlord Helping The FBI?
• Feds Snag Poverty Landlord
• Police Commissioner Pleads
