Paul R. Tomko Sentenced to 4 Years for Mortgage-Fraud Scheme, Cleve…

Cleveland’s Paul R. Tomko, 40, has been sentenced to 52 months in federal prison for his involvement in a mortgage-fraud scheme, officials announced today.

The United States Attorney for the Northern District of Ohio, Steven M. Dettelbach, and the FBI’s Cleveland office highlighted the sentence imposed by U.S. District Judge Christopher Boyko, who also ordered Tomko to pay $327,044 in restitution.

Tomko pleaded guilty in March to conspiracy to commit wire fraud, two counts of wire fraud, student loan fraud, and concealment. His fraudulent activities spanned from 2006 to 2007, during which he tricked a housekeeper into securing mortgage loans for four properties by inflating her financials.

Once the loans were approved, Tomko pocketed around $100,000 through fictitious liens and misdirection of funds. His deceit didn’t stop there; as a former paid cooperator with the FBI, he concealed his income from federal authorities to fraudulently obtain student aid and grants.

In 2009, Tomko had previously been sentenced to three years of probation for similar charges. He was also discovered to have signed a paid cooperation agreement with the FBI in 2007 while secretly earning nearly $27,000. Court documents reveal that Tomko failed to disclose this income to his probation department and falsely claimed approval from law enforcement to operate his mortgage business.

The case is a testament to the relentless pursuit of justice by Assistant U.S. Attorneys Christian H. Stickan and Christos M. Georgalis, along with agents from the FBI’s Cleveland office and The Office of the Inspector General for the United States Department of Education.