Mortgage Scam Ringleaders Gambled Away Loot, Feds Say

A source tells the Post that two con men who ran a mortgage scam bilking millions out of now-failed lenders like Countrywide and Washington Mutual blew obscene amounts of money on extravagant gambling trips to Atlantic City. Garri Zhigun and Aleksander Lipkin pleaded guilty earlier this month to running a 27-member gang that borrowed money to buy properties, then faked sales at inflated prices to borrow even more before defaulting on the loans. The two swindlers—who were backed by the Russian mob—made dozens of trips to Atlantic City between '05 and '06, where they were high rollers awarded with free hotel rooms and show tickets. And all this took place while Zhigun was on parole after serving two years in prison for his participation in an insurance scam involving staged car accidents.