Source: Nickbeer / Getty
CINCINNATI, OH – Yesterday, the US Department of Justice announced that Boruch “Barry” Drillman pleaded guilty to engaging in a conspiracy to fraudulently obtain more than $165 million in loans and fraudulently acquire real estate properties.
Mr. Drillman managed BRC Williamsburg Holdings LLC, which owned Williamsburg of Cincinnati, a 976-unit apartment complex in the Hartwell neighborhood. In January 2023, the City of Cincinnati sued the owners of Williamsburg for maintaining substandard living conditions at the premises.
“Prosecuting bad-acting landlords who take advantage of Cincinnatians is a top priority of mine,” said City Manager Sheryl Long. “While this federal court case does not directly impact our ongoing litigation here in Cincinnati, Mr. Drillman’s guilty plea is further evidence of just how immoral this ownership group’s behavior was. My administration, alongside Mayor Pureval and City Council, will continue to go after exploitative property owners who brazenly flout the law.”
In June 2023, a receiver was appointed to take over ownership and management of Williamsburg of Cincinnati after the original owners failed to follow a court order to fix issues in a timely manner. At the same court hearing at which the receiver was appointed, Hamilton County Judge Tom Heekin approved the consolidation of all concurrent lawsuits against BRC Williamsburg Holdings LLC, including a foreclosure case from mortgage lender Fannie Mae.
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Williamsburg Owner, Pleads Guilty to $165M Mortgage Fraud was originally published on thebuzzcincy.com
