James Kalpakis
James Kalpakis

A disbarred attorney from Old Westbury has admitted to stealing more than $4 million from clients and banks he represented in real estate deals—including his own wife—over a four-year period.

James Kalpakis pleaded guilty Thursday at Nassau County court to grand larceny.

Prosecutors said the 52-year-old thief obtained a $1.1-million loan to refinance a mortgage on a home his wife owned by submitting a forged power of attorney in her name, allowing him to sign the forms in her absence in 2008—four years after he was disbarred.

The following year, Kalpakis stole $1.3 million from a victim that he sold two homes to using forged deeds from banks that were not actually the owners and another $500,000 from the same victim in an oil, gas and mineral lease investment scam, authorities said.

In 2010, he stole a $750,000 mortgage from a private investment firm, $150,000 from another victim he fraudulently sold property to and $45,000 from a victim for the purchase of a home, prosecutors said.

And in the most recent scheme, Kalpakis twice scammed the same victim by promising to settle a pair of nonexistent lawsuits.

Long Island Press patrons

Judge Philip Grella is expected to sentence Kalpakis on Dec. 3 to 3-1/3 to 10 years in prison.



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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.