Shortly before leaving the Federal Bureau of Investigation in 2006, after a swashbuckling undercover career that would later help catapult him into Congress, a young agent named Michael G. Grimm went into real estate, investing roughly $1 million of borrowed money in a luxury development in Texas.
Seeking a builder to cooperate on the project, Mr. Grimm chose a former F.B.I. agent who had served with him in New York — even though the former agent was under indictment on state racketeering and fraud charges, according to court and property records.
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