The FBI is hunting for a Queens man who went on the lam last week before he could be arrested for masterminding a $7 million mortgage fraud scheme.
Ishwardat (Danny) Raghunath, 46, a Guyanese national, is accused of ripping off lenders and leaving numerous homes in foreclosure.
In exchange for a $5,000 fee for using their names, the buyers were promised that they would not have to make payments on these "investment opportunities," the indictment says.
Raghunath submitted bogus mortgage applications to lenders, inflating the sales price of the properties, then deposited the loan money in a bank account he controlled.
After several months the mortgage payments stopped, and the lenders brought foreclosure actions against the buyers.
When FBI agents went to Raghunath's home in South Ozone Park on Monday night, he was already gone, said a spokesman for the FBI.
Anyone with information about his whereabouts is asked to call the FBI at (212) 384-5000.