James Kalpakis
James Kalpakis

A disbarred attorney from Old Westbury has been accused of stealing more than $4 million from clients—including his wife—and banks he represented in real estate deals in recent years.

James Kalpakis was indicted on charges of grand larceny, criminal possession of a forged instrument and offering a false instrument for filing. He was initially arrested on similar charges in January 2011.

Nassau County prosecutors said the 52-year-old, who was disbarred in 2009, stole $4.3 million from five clients he represented in real estate deals between September 2008 and January 2011.

He allegedly stole a $1.1-million mortgage on a home owned by his wife in 2008, $100,000 from a client between 2008 and 2009 and $45,000 from another client in 2010.

Authorities also alleged he stole $1.3 million from someone he sold two homes to using forged deeds and then stole another $500,000 from the same victim in an investment scheme.

He’s additionally accused of stealing a $750,000 mortgage from a private investment firm, $150,000 from another real estate client in a deal with fake documents and $80,000 from another victim using three separate alleged scams.

Hofstra University Transfer

Judge Philip Grella released Kalpakis on his original bail of $50,000 bond or $25,000 cash. He is due back in court June 4.

Prosecutors are continuing the investigation. They said additional charges may be filed.


Contour Mortgage

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Timothy Bolger is the Managing Editor for the Long Island Press who’s been working to uncover unreported stories since shortly after it launched in 2003. When he’s not editing, getting hassled by The Man or fielding cold calls to the newsroom, he covers crime, general interest and political news in addition to reporting longer, sometimes investigative features. He won’t be happy until everyone is as pissed off as he is about how screwed up Lawn Guyland is.