An attorney from Garden City was charged with grand larceny for allegedly stealing more than $700,000 from two victims in connection with real estate transactions from 2023.
Daniel Boldi, 49, was arraigned today before Judge Jaclene Agazarian on two counts of second-degree grand larceny (a Class C felony). Boldi was ordered to surrender his passport and released on his own recognizance. If convicted, he faces a maximum of up to five to 15 years in prison. He is due back in court on April 25, 2024.
Boldi was an attorney experienced in real estate transactions who owned and operated his law firm, Boldi Law Group, P.C. On October 31, 2023, a couple worked with Boldi on the closing of the sale of their home in East Meadow. He acted as the settlement agent/bank attorney for the mortgage broker used in connection with the transaction. Upon receipt of the loan funds from the home buyer’s mortgage company, Boldi was to distribute $309,367 to the couple’s mortgage lender to pay off the remainder of the mortgage on the East Meadow home.
He allegedly falsely told the couple that the wire transfer from the buyer’s lender had not been posted to his escrow account, and the funds were not available at the time of the closing. Based upon the defendant’s alleged false representation that the funds had not been posted yet, the parties agreed to a “dry closing,” and the deed to the home was held in escrow.
Days later, on November 2, 2023, Boldi allegedly provided the couple with a fraudulent copy of what he purported to be a wire request for the mortgage payoff amount, as proof that the funds had been sent to the couple’s mortgage company. As a result, the deed was released, and the sale was completed. However, the wire transfer to the couple’s mortgage company was never performed.
To date, the mortgage payoff funds have never been provided to the lender, and the couple has been forced to continue making mortgage payments on a home they no longer own.
On November 14, 2023, Boldi represented a buyer in the purchase of a property in Valley Stream and had an associate handle the closing at his law office in Garden City. During the closing, Boldi allegedly told his associate that the closing would have to proceed as a dry closing because the payment from the buyer’s lender, approximately $422,000, had not cleared the escrow account. Thus, a dry closing was conducted.
On November 17, 2023, Boldit allegedly provided the victim/seller with a check for $379,493, which bounced. Soon after, the title and broker commission checks that were allegedly drafted by the defendant also bounced. To date, Boldi has not released the money that was sent by the buyer’s lender. According to bank records, the funds from both transactions were allegedly spent on various other expenses unrelated to the victims’ transactions, including a $687,264 payment to sellers in a separate dry closing.
Boldi surrendered to NCDA Detective Investigators on April 10, 2024.
“This defendant allegedly deceived victims he worked with during real estate transactions. He’s alleged to have stolen proceeds of their property sales and money earmarked to pay off a mortgage,” said Nassau County District Attorney Anne Donnelly. “Incredibly, one couple continues to pay the mortgage for a home they no longer own because of this defendant’s alleged embezzlement. Our investigation involving Boldi is ongoing, and NCDA has received multiple complaints from other individuals who have reported being victimized by Boldi.”
Anyone who believes they may have been victimized by Boldi, and have not yet filed a complaint should contact the NCDA’s Criminal Complaint Unit at 516-571-3505.