Mortgage Fraud Lands Queens Man in Hot Water
A 33-year-old man from Queens, N.Y. has pleaded guilty to his role in a mortgage fraud scheme that duped a local mortgage company out of $1,700,000. Sean Ola-Ojo, 33, faces up to 41 months in prison when sentenced.
According to Assistant U.S. Attorney John J. Field, the defendant orchestrated the scheme with the help of co-defendants Angelo Louissaint and Jennifer Johnson. The trio recruited straw-buyers to purchase five properties in the New York City area at inflated prices. The buyers did not qualify for the financing sought, and had no intention of repaying the mortgages or occupying the properties.
To make the straw-buyers appear wealthier, the defendants submitted falsified income, asset, and down payment information to Flaherty Funding. Virtually every supporting document submitted was forged or altered, including Form W-2s, earnings statements, bank account statements, and down-payment checks.
U.S. Attorney William J. Hochul, Jr. announced the guilty plea, which comes after a thorough investigation by the United States Postal Inspection Service, Boston Division, the United States Postal Inspection Service, New York Division, and the Federal Bureau of Investigation.
Charges are still pending against co-defendants Angelo Louissaint and Jennifer Johnson. The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.
The case highlights the ongoing struggle against mortgage fraud in the New York City area. The United States Postal Inspection Service, Boston Division, under the direction of Inspector in Charge Kevin Niland, the United States Postal Inspection Service, New York Division, under the direction of Inspector in Charge Ronald Verrochio, and the Federal Bureau of Investigation, under the direction of Brian P. Boetig, Special Agent in Charge, have been working tirelessly to bring perpetrators to justice.
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Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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