Bank files to foreclose on property owned by developer Bob Morgan

Local News

ESL Federal Credit Union has filed a notice of foreclosure on a property owned by developer Bob Morgan.

According to court paperwork, the credit union has moved to foreclose on a property at 50 Fairwood Drive in the Town of Henrietta. The documents say the mortgages on the property are in Morgan’s name.

In May, Morgan was charged with 45 counts of fraud in federal court in Buffalo. He owns property in Downtown Rochester, Monroe County and Buffalo. Morgan is accused of lying to get better loans from banks. He is also facing civil charges from the SEC which alleges Morgan Management used money from investors to pay off earlier investors.

Morgan has pleaded not guilty to the charges. Defense pretrial motions are set to begin in early 2020.

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