Posted on: September 02, 2025 08:20 AM

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Garden city man sentenced to up to 12 years in prison for USD6M embezzlement and real estate fraud

Nassau County District Attorney Anne T. Donnelly announced that an attorney from Garden City was sentenced to up to 12 years in prison for stealing more than $6 million in connection with more than 50 separate real estate transactions between September 2020 and January 2024.

Daniel Boldi, 50, pleaded guilty on October 17, 2024, before Judge Caryn Fink to 13 counts of Grand Larceny in the Second Degree (a C felony) and one count of Scheme to Defraud in the First Degree (an E felony).

The defendant was sentenced on August 26, 2025, to 4 to 12 years in prison. Civil judgement orders in excess of $6.2 million were also issued on behalf of the 52 victims.

“Daniel Boldi’s clients trusted him to safeguard their money during the homebuying process, but he ultimately betrayed them with his greed. The ripple effects of his theft are devastating, leaving victims in a financial hole of more than $6 million,” said DA Donnelly. “My office won’t allow the people of Nassau County to be cheated by predatory criminals who pose as upstanding professionals. When someone abuses their power like this, we will expose them.”

DA Donnelly said that, between September 8, 2020, and January 17, 2024, the defendant, an attorney experienced in real estate transactions who owned and operated his law firm, Boldi Law Group, P.C., embezzled a total of $6,206,368 from 52 victims, ranging from individual homeowners, real estate agents, lenders, and other entities for whom he held money in escrow.

Boldi committed escrow thefts totaling $4,756,368 from victims who trusted him with the sale or purchase of their property.

In one scheme, on October 31, 2023, a couple worked with Boldi on the closing of the sale of their home in East Meadow. The defendant acted as the settlement agent for the mortgage lender used in connection with the transaction.

Upon receipt of the loan funds from the home buyer’s mortgage company, the defendant should have sent $309,367 to the couple’s mortgage lender to pay off the remainder of the mortgage on the couple’s home.

The defendant falsely told the couple that the wire transfer from the buyer’s lender was not posted to his escrow account, and the funds were not available at the time of the closing. Based upon the defendant’s false representation that the funds were not posted yet, the parties agreed to a “dry closing,” and the deed to the home was held in escrow.

Days later, on November 2, 2023, the defendant provided the couple with a fraudulent copy of what he purported to be a wire request for the mortgage payoff amount, as proof that the funds were sent to the couple’s mortgage company. As a result, the deed was released, and the sale was completed. However, the wire transfer was never sent to the couple’s mortgage company.

The mortgage payoff funds were never provided to the lender, and the couple was forced to continue making mortgage payments on a home they no longer own.

In another scheme, the defendant also provided a private lender with a fraudulent mortgage and title closing records, embezzling $1.15 million through two separate loan thefts between September 8, 2020, and November 7, 2023.

According to bank records, Boldi used the funds he stole on various personal expenses unrelated to the victims’ transactions, including Venmo payments to other individuals and property investments.

Boldi surrendered to NCDA Detective Investigators on April 10, 2024.

The case is being prosecuted by Senior Investigative Counsel Jennifer Contreras of the Major Financial Frauds Bureau under the supervision of Bureau Chief Maureen McCormack and under the overall supervision of Executive Assistant District Attorney for the Investigations Division Rick Whelan. The defendant is represented by Michael R. Franzese, Esq.

From DA