The federal government alleges that Jamie Edelkind of Hull committed fraud to obtain loans for the purchase and renovation of this 15-room mansion on Nantasket Avenue in Hull. (File photo)
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Hull man accused of bank fraud; Money spent on ‘Honey Fitz' house, authorities allege
The federal government alleges that Jamie Edelkind of Hull committed fraud to obtain loans for the purchase and renovation of this 15-room mansion on Nantasket Avenue in Hull. (File photo) |
By DAN DeLEO
The Patriot Ledger
BOSTON - A Hull man was charged in federal court yesterday with bank fraud in connection with loans he used to buy and renovate a 15-room Tudor mansion that once was the summer home of John F. “Honey Fitz'' Fitzgerald, the legendary Boston mayor and father of Rose Kennedy.
According to the U.S. Attorney's office, Jamie Edelkind, 40, of 940 Nantasket Ave. used his wife's name and falsified financial information to obtain three loans of more than $2 million between August 2000 and March 2003.
Edelkind fabricated documents, including W-2 wage and tax statements, to show that his wife earned $200,000 annually and had more than $1 million in deposits in a Norwegian bank, according to authorities.
Edelkind also used the false information to secure credit lines of up to $350,000, authorities said. He faces up to 30 years in prison and a $1 million fine on each of the three bank fraud counts.
This is not the first time the Hull man has faced fraud charges. In July of last year, Edelkind was hit with a 25-count indictment by federal authorities in Georgia for writing bad checks and bank fraud when he was a resident of Atlanta.
Authorities there alleged that Edelkind wrote counterfeit checks totaling more than $300,000 and took out a phony home equity loan that netted him $221,000. He allegedly falsely declared personal bankruptcy to stave off creditors.
In 1997, he was fined $350,000 by the Securities and Exchange Commission for fraud violations, including misstating the financial condition of a company he headed, Georgia-based Sage Technologies. He was also accused of overstating his academic credentials.
He was arrested last year in Louisiana for failing to pay child support.
In 2002, Edelkind was trying to raise several million dollars for a software company he had foundEd called Apostille. Edelkind said his company was developing technology that would make CDs and DVDs immune to piracy and prevent the illegal downloading of music off the Internet. The five-person company was operating out his home on Nantasket Avenue.
At the time, Edelkind said he was optimistic the business would be a success. He told a Patriot Ledger reporter: “We've got some interest. ... I think it's going to happen really quick.''
A message left with the company yesterday was not returned.
Dan DeLeo may be reached at ddeleo@ledger.com.
Copyright 2004 The Patriot Ledger
Transmitted Thursday, March 11, 2004
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