Rochester, N.Y. - The owner of 13 CNY Apartment Complexes has issued a statement responding to this week’s FBI search of the company offices near Rochester.
Robert Morgan says his company “continues to cooperate with a federal inquiry” believed to be related to federally backed loans for several developers through a specific mortgage broker. Morgan says his company is current on all its loan obligations and he looks forward to the conclusion of the inquiry.
A search warrant affidavit shows the FBI is investigating possible fraud by Morgan's son and nephew. They are suspected of misleading appraisers about the value of some Morgan apartment complexes