Office of the District Attorney
P. David Soares
Albany County Judicial Building
Albany , New York 12207
(518) 487-5460
(518) 487-5093 – fax

Aaron Dare and Girlfriend Face 25 Years for Real Estate Scams Totaling more than $1.6 Million

Once Known as A Trailblazer, Dare Has Left Albany with A Trail of Dispare and Urban Decay as his Lavish Lifestyle Comes to an End

ALBANY , NY –  Albany County District Attorney P. David Soares announced today that AARON DARE of Albany, NY, and ANA PAULA MONTEIRO of Albany, NY, were arraigned on a sealed indictment consisting 59 counts including: (1) count of Money Laundering in the First Degree, a Class “B” Felony, (22) counts of Grand Larceny in the Second Degree, a Class “C” Felony, (4) counts of Attempted Grand Larceny in the Second Degree, a Class “D” Felony, (2) counts of Grand Larceny in the Third Degree, a Class “D” Felony, (5) counts of Criminal Possession of a Forged Instrument in the Second Degree, a Class “D” Felony and (1) count of Forgery in the Second Degree, a Class “D” Felony and (19) counts of Falsifying Business Records in the First Degree, a Class “E” Felony in front of the Honorable Thomas Breslin. MONTEIRO faces an additional 5 counts including: (1) count of Scheme to Defraud in the First Degree, a Class “E” Felony, (2) counts of Filing a False and Fraudulent Personal Income Tax Return, a Class “E” Felony and (2) counts of Failure to File a Personal Income Tax Return, an unclassified misdemeanor.

These charges come as a result of crimes that were committed after DARE pled guilty to federal charges. DARE remains on house arrest pending sentencing in the federal case. The state investigation continues and more charges may be forthcoming.

In July 2007, the New York State Police Financial Crimes Unit (FCU) was contacted by a company that buys and sells existing mortgages with information that several loans in the Albany area were suspicious. The FCU researched the loans and determined that they were connected to AARON DARE and ANA MONTEIRO.

The indictment alleges that between January 2005 and August of 2007, DARE and MONTEIRO funded loans of 25 properties in Albany County totaling $2.3 million.

  • 8 Quail St.
  • 55 N. Manning Blvd.
  • 64 Amity St. ( Cohoes)
  • 84 Lark St.
  • 158 Lark St.
  • 61 Catherine St.
  • 72 Catherine St.
  • 73 Catherine St.
  • 113 Clinton St.
  • 163 Dove St.
  • 347 Third St.
  • 350 Third St.
  • 380 Livingston Ave.
  • 388 Livingston Ave.
  • 464 Livingston Ave.
  • 779 Livingston Ave.
  • 790 Livingston Ave.
  • 382 First St.
  • 386 First St.
  • 459 First St.
  • 119 Broad St.
  • 25 Alexander St.
  • 73 Judson St.
  • 198 Second St.
  • 443 Second St.

The group then stole $1.6 million of the $2.3 million by not paying off existing mortgages.

While acting as mortgage brokers, property managers, title and settlement companies, the new mortgages were obtained using phantom down payments, justified by inflated appraisals. The proceeds of these new inflated mortgages did not go to pay off the existing mortgages.

It is alleged that the proceeds of these new loans went into accounts that were controlled by DARE, MONTEIRO and other business associates. These properties were multi-family rentals where DARE and MONTEIRO would act as the property managers collecting the rents for local and out-of-area investors.

The arrest comes after a joint investigation by the New York State Police, the New York State Banking Department, the New York State Insurance Frauds Bureau, the New York State Tax Department, the Albany County Clerk’s Office, the Albany County Housing Authority, the Albany Police Department, the Federal Bureau of Investigation, the United States Attorney for the Northern District and the Office of the Albany County District Attorney.

Financial Crimes Bureau Chief Chris Baynes is handling the prosecution of this case.


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For further information contact: eather Streeter Orth