AG James Sues Florida Resident For Scamming Williamsburg Co-op

By Idy Perl

Apparently even real estate scammers are working remotely these days. 

NY Attorney General Letitia James announced today that she is suing Jessica Vargas, a Florida resident, for fraudulently claiming control over the Housing Development Fund Corporation (HDFC) at 13 Scholes Street. 

13 Scholes HDFC is a low-income co-op residential building in Williamsburg, Brooklyn, which means its collectively owned and operated by its residents. The original shareholders of 13 Scholes have already passed away, and an investigation revealed that Vargas, the daughter of one of the original shareholders, created false documents to try and gain control of the corporation. 

Vargas managed to exploit the corporation and collected at least $442,000 in rent and is reportedly now attempting to sell the building for personal profit. 

“Jessica Vargas declared herself president of a building she had no claim to, exploiting New Yorkers for her personal gain while living over a thousand miles away,” Attorney General James said. “What was meant to be affordable housing for New Yorkers has now been manipulated into a Floridian’s personal piggy bank. That is unacceptable. We are suing to take this building out of Vargas’ hands and ensure it remains available to low-income New Yorkers.”