BRONX, NY — A Bronx real estate agent has been indicted for allegedly defrauding a 70-year-old man out of his Baychester home and illegally collecting $60,000 in rent subsidies.
Kenneth Lester Floyd Jr., 63, was arraigned on December 13 before Bronx Supreme Court Justice Brenda Rivera on charges including grand larceny, criminal possession of stolen property, and welfare fraud. Floyd, who pleaded not guilty, is due back in court on March 6, 2024.
Bronx District Attorney Darcel D. Clark said Floyd allegedly exploited Garnett Miller, the elderly homeowner, who was facing foreclosure in 2019. Floyd, a licensed real estate agent, convinced Miller to transfer ownership of his two-family home on Fish Avenue to a trust controlled by Floyd, promising to return the property within six to nine months. Miller paid Floyd $5,000 for the service.
According to investigators, Floyd moved tenants into the home in November 2019 and collected more than $60,000 in rental subsidies from the NYC Human Resources Administration through the cityFHEPS rental assistance program. Floyd allegedly failed to make any mortgage payments or return the property to Miller, who continues to reside there.
“Simply because someone is a licensed professional does not mean they are above committing fraud,” said District Attorney Clark in a statement.
Floyd is reportedly fighting Miller in civil court to retain ownership of the property.
Prosecutors allege that Floyd deceived a vulnerable homeowner, adding to the financial and emotional toll of foreclosure.