New York City-based Kenshou Mortgage Intermediary (KMI), a New York-based mortgage company, has been working for nearly a decade to improve the lives of borrowers in the city, particularly the young.
It is part of a nationwide movement of mortgage companies which have seen a dramatic rise in loan losses, which have increased by a staggering $300 billion in the last 10 years.
According to KMI, the number of borrowers under 18 years old has tripled since 2008, and the number is expected to double by 2020.
The company has been in the news recently for the arrest of the former CEO of its New York branch, Daniel Kresner, for allegedly embezzling $100 million from the company.
He pleaded guilty to charges of fraud, money laundering and tax evasion.
KMI said it was taking steps to protect the identity of its employees, but it did not explain how or when it obtained the data that were subsequently made public.
One of its largest employees, Michael Sperling, a former New York Times correspondent, has also been arrested.
He was indicted on charges of taking $2.6 million in bribes from an unnamed bank.
He allegedly received the money by threatening to sell the Times and its owner, Jeff Bezos, for $1 billion.
In 2015, Sperly was fired by KMI after a video of him making racist remarks was posted on YouTube.
The firm has also recently been embroiled in a sexual harassment scandal, in which an ex-employee alleged that he was sexually harassed by the company’s president, Michael DeFazio.
The CEO of the firm, Michael D. Bischoff, is currently under investigation by the US Department of Justice for allegedly misleading investors in an online advertising program.
The New York office of KMI is located at 14 Fulton Street in Manhattan, between Columbus Circle and Grand Central.
It does not disclose its financial details, and has refused to comment on the Kresners arrest.
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In a statement, KMI explained that it had hired an outside firm to investigate the allegations.
The US Department for Justice is investigating allegations that the company was mismanaging loans, the company said in a statement.
Kresning, the former chief executive of KMi, resigned in 2016, and in March 2017, he was arrested in New York on charges related to his alleged fraud.
to the statement, DeFizio resigned in June 2017, and was indicted in September 2018.
Both men pleaded not guilty to the charges.
In February 2018, Bischo was arrested and charged with securities fraud, and is currently on bail.
He has not been charged in connection with any of the investigations.