Long Island resident Daniel Boldi, 49, has admitted to embezzling millions of dollars in escrow and home loan funds from his clients during multiple property sales, according to Nassau County District Attorney Anne T. Donnelly.
The scheme, which spanned from September 2020 to January 2024, involved 46 separate real estate transactions, Donnelly revealed.
Boldi, who acted as the settlement agent and bank attorney in these deals, pleaded guilty to 13 counts of grand larceny in the second degree (a Class C felony) and one count of scheme to defraud in the first degree (a Class E felony). He is expected to serve between three and nine years in prison and must pay $1 million in upfront restitution.
In addition to his prison sentence, Boldi will be disbarred and can no longer practice law as a result of his guilty pleas.
Between 2020 and 2024, Boldi operated his law firm, Boldi Law Group, P.C., during which time he embezzled $5,780,424 from 46 victims. The victims included individual homeowners, real estate agents, and other entities whose funds he held in escrow.
The bulk of the stolen funds—totaling $4.63 million—came from clients working with Boldi on property sales and purchases. In one instance, he defrauded a private lender out of $1.15 million by providing fraudulent mortgage and title closing documents.
Records show that Boldi used the stolen money for personal expenses, including Venmo payments and property investments, none of which were related to the victims’ transactions.
"Daniel Boldi posed as a trusted professional in real estate transactions and orchestrated elaborate schemes that defrauded nearly four dozen prospective homeowners, real estate brokers, and even a volunteer ambulance corps out of more than five million dollars," said District Attorney Donnelly.
The case underscores the importance of vigilance in real estate dealings, as even trusted professionals can exploit their positions for personal gain. Boldi’s sentencing is scheduled for the coming months.