Daniel Boldi, a 50-year-old attorney from Garden City, New York, has been sentenced to four to twelve years in state prison for orchestrating a $6.2 million real estate escrow fraud that impacted more than 50 victims across Nassau County. The sentencing, announced by Nassau County District Attorney Anne T. Donnelly, followed Boldi’s guilty plea on October 17, 2024, to 13 counts of Grand Larceny in the Second Degree and one count of Scheme to Defraud in the First Degree. Civil judgment orders totaling over $6.2 million were also issued in favor of the victims.
According to prosecutors, between September 8, 2020, and January 17, 2024, Boldi leveraged his position as a trusted real estate attorney and the owner of Boldi Law Group, P.C. to embezzle funds he was holding in escrow for homebuyers, sellers, lenders, and real estate professionals. Of the total stolen, more than $4.75 million came from clients who relied on Boldi during real estate transactions.
One case involved a couple selling their home in East Meadow. Boldi, serving as the settlement agent, received mortgage payoff funds from the buyer’s lender but falsely claimed the money hadn’t posted. He then persuaded the sellers to proceed with a “dry closing,” holding the deed in escrow. Days later, he sent the couple a falsified wire request to trick them into releasing the deed, but the mortgage lender never received the payoff. As a result, the sellers were left making payments on a home they no longer owned.
In another instance, Boldi defrauded a private lender out of $1.15 million through two fake loan closings using falsified mortgage and title documents.
Bank records showed that Boldi spent the stolen funds on personal expenses, including Venmo payments and property investments. He was arrested on April 10, 2024, by Nassau County District Attorney’s Office investigators with the assistance of local authorities.
District Attorney Donnelly condemned the betrayal of trust, stating that Boldi exploited his role as a legal professional for personal gain, causing significant financial harm to dozens of individuals. The prosecution was led by Senior Investigative Counsel Jennifer Contreras of the Major Financial Frauds Bureau, under the supervision of Bureau Chief Maureen McCormack and Executive Assistant District Attorney Rick Whelan. Boldi was represented by attorney Michael R. Franzese.
