Eli Puretz is the third member of the New Jersey family to be charged. Their crumbling empire of at least 100 neglected affordable housing complexes included The Pavilion and Brith Sholom in Philly.
— which built a crumbling empire of at least 100 severely neglected affordable housing complexes including The Pavilion and Brith Sholom in Philadelphia — has been convicted of mortgage fraud conspiracy.
The Puretz family, whose company Apex Equity Group worked through hundreds of other corporate entities, has been in real-estate for decades, undergoing a more-than-20-year roller coaster of bankruptcies, foreclosures and new investments.
In Aron Puretz’s earlier federal case, he admitted to falsifying records to deceive lenders and hide his involvement with two housing projects from HUD, as the agency had sought to cut off the landlord over chronic maintenance issues. The $36 million mortgage for the Brith Sholom property also shows red flags: The loan was made by a small financial institution run by the former owner of Brith Sholom House, a man named Jose Camacho, and signed by Irene Paul, a tenant of Brith Sholom who was in her 90s. Paul is now deceased. Her son said he could not make sense of why his mother would have been the signatory.Aron and Eli Puretz each pleaded to a single charge, and have not yet been sentenced.
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