PERINTON, N.Y. — The FBI raided the offices of Rochester real estate developer Bob Morgan of Morgan Management Monday morning. Spectrum News has obtained the federal application for that search warrant and it includes some details behind the raid.

The affidavit, filed May 10th, accuses Morgan Management's Vice President of Development Kevin Morgan and Project Manager Todd Morgan of violating wire and bank fraud laws. It's uncertain what, if anything, Bob Morgan knows about these allegations.

The document says the FBI has probable cause that Kevin and Todd Morgan may have provided false information to financial institutions in order to secure larger bank loans. The application says federal agents believe the two inflated property values to qualify for larger loans.

FBI agents raided Morgan headquarters on Pittsford Victor Road Monday. The search warrant sought to find any records or emails associated with those alleged deals.

The document details instances where investigators say the two men allegedly staged empty apartments to appear occupied when banks inspected properties before approving loans.

CEO Bob Morgan released a statement, saying in part:

"Morgan Communities continues to cooperate with a federal inquiry that we believe is related to federally backed loans placed to several developers through a specific mortgage broker or brokers."

Morgan Management has ties to a number of residential projects in several states and in the Buffalo, Syracuse and Rochester areas, including a high-profile proposal of a new performing arts center on Rochester’s Parcel 5.