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NYC Pair Pleads Guilty in Mortgage Scheme
ROCHESTER, N.Y.—A brazen mortgage fraud scheme has been brought to a close after Angelo Loissaint, 42, and Jennifer Johnson, 41, both of West Babylon, NY, pleaded guilty to conspiring to commit mail and wire fraud in a Rochester courtroom.
The defendants, working together with an individual whose charges remain pending, concocted a scheme to obtain mortgage loans from Flaherty Funding, a mortgage company located in Rochester, NY, using fraudulent information. As a result, they successfully obtained approximately $1,200,000 in loans, and sought an additional $900,000 for loans that ultimately did not close.
Assistant U.S. Attorney John J. Field, who is handling the case, stated that the defendants prepared false mortgage applications in the names of straw buyers and used fraudulent supporting documents. The defendants’ scheme was uncovered after a thorough investigation by the United States Postal Inspection Service, Boston Division, under the direction of Inspector-in-Charge Shelly Binkowski; the United States Postal Inspection Service, New York Division; and the Federal Bureau of Investigation, under the direction of Adam S. Cohen, Special Agent-in-Charge.
The guilty pleas are a significant blow to the defendants, who now face sentencing on July 12, 2017, at 2:00 p.m., before Judge Elizabeth A. Wolford. The sentence will undoubtedly be a harsh one, given the severity of the crime and the substantial amount of money involved.
The case is a stark reminder of the importance of vigilance in the financial industry and the need for robust safeguards to prevent such schemes from occurring in the future.
Contact: Barbara Burns, (716) 843-5817 or (716) 551-3051.
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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