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Disbarred Clearwater Lawyer Admits To Real Estate Scam

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By ELAINE SILVESTRINI | The Tampa Tribune

Published: December 18, 2007

TAMPA A - disbarred Clearwater lawyer pleaded guilty this morning to conspiracy and wire fraud, admitting he stole millions in a real estate scheme.

Graham Kligerman, 33, was disbarred two years ago. When his law practice was failing, according to court documents and a federal prosecutor, he diverted money from the real estate scheme to himself and his law practice clients.

Kligerman told some of the clients he had settled their civil cases, Assistant U.S. Attorney Thomas Palermo said.

The scheme, which ran from 2004 to January 2006, involved 60 real estate transactions in which people were solicited and typically paid $2,500 to be "straw buyers," posing as purchasers of homes from owners who were in danger of foreclosure. The straw buyers mostly were "unsophisticated and did not understand the true nature of the transactions," court papers state. They unwittingly wound up owning the properties and struggling financially.

The original homeowners were targeted because they had substantial equity but were facing foreclosure. Kligerman and his unidentified co-conspirators offered to save them by pairing them with the straw purchasers, who in turn would lease them the homes. "Many of the homeowners lost their homes to foreclosure and lost any equity built up in the property," court papers state.

Palermo told U.S. Magistrate Thomas B. McCoun III that the prosecution and defense have agreed that the amount of loss to individuals and financial institution is somewhere between $1 million and $11 million. Palermo said he suspects the number is closer to $11 million.

The charges to which Kligerman pleaded guilty carry a maximum sentence of 25 years in federal prison. Under the terms of a plea agreement, Kligerman agreed to cooperate with investigators and could face far less.

Reporter Elaine Silvestrini can be reached at (813) 259-7837 or esilvestrini@tampatrib.com.

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