BINGHAMTON, N.Y. - The company partnering on a major development on Front Street in Binghamton has been indicted by the FBI.
Todd and Kevin Morgan, of Morgan Management along with two associates have been indicted on 62 counts of bank fraud.
Investigators say from March 2011 to June 2017, Morgan conspired to defraud multiple banks and mortgage companies to get loans for high amounts.
Last week the FBI executed search warrants at the firm.
Morgan Management has partnered with Newman Development for the 50 Front Street housing project.
The $28.3 million project will be a five story building with professional office space on the ground floor along with 122 apartments geared toward young professionals and empty-nesters.