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The Honorable Eric Schneiderman

The Office of the Attorney General
The Capitol Albany, NY
12224-0341

August 14, 2017

Dear Attorney General Schneiderman-

I have recently become aware of a real estate investment firm called Steward
Redevelopment located at 2800 Bruckner Boulevard, Bronx NY. I suspect the firm may be
engaging in predatory lending. In light of this, I would like to make your office aware of the
situation and I would respectfully urge you - as well as the Bronx arm of the agency - to
investigate the firm and its business practices.

I believe Steward Redevelopment is marketing its services towards lower income
residents in the area, emphasizing unrealistic expectations for their investments and framing
them as safe and pragmatic business opportunities, rather than the risky investments that they
are. I believe that Steward Redevelopment is taking advantage of residents with little knowledge
about the real estate market or investment strategies.

The firm’s website claims that potential investors can buy into the firm’s program for as
low as $10,000 and guarantees a monthly return increase of 250% - 500%. These promises
amount to little more than a “get rich quick” scheme and are not grounded in any established or
realistic investment strategy that would actually benefit the consumer. Establishing such a low
buy in amount while promising such a high rate of return clearly indicates that the firm intends to
target low-income members of the community without the financial experience to discern good
opportunities from bad ones.

It almost defies belief that Steward Redevelopment is also, based on their website,
entrusted to develop special needs supportive housing. It would seem someone engaging in such
predatory behavior would instead be forbidden from also being entrusted to care for the
vulnerable.

As you know, predatory lending can decimate a family’s financial future and cause harm
throughout entire communities. Steward Redevelopment clearly does not prioritize our
community and indents to make a profit by exploiting residents here. Again, I urge your office to
investigate.

Should you require any further information, please contact me at (347) 719-0154.

Signed,
John C. Doyle