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- Paul R. Tomko, Mortgage Fraud, Ohio 2009 · Virginia
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- William D. Montague, Conspiracy, Fraud, Money Laundering, Bribery, Mail Fraud, Wire Fraud, Ohio 2010 · Virginia
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Cleveland Man Sentenced to 4 Years in Prison for Mortgage Fraud Scheme
A former paid cooperator for a federal law enforcement agency has been sentenced to over four years in prison for his role in a mortgage-fraud scheme in Cleveland, Ohio.
Paul R. Tomko, 40, of Cleveland, pleaded guilty in March to one count of conspiracy to commit wire fraud and wire fraud, two counts of wire fraud, one count of student loan fraud, and one count of concealment.
On March 13, 2023, U.S. District Judge Christopher Boyko sentenced Tomko to 52 months in prison and ordered him to pay $327,044 in restitution.
Tomko, who was a paid cooperator for a federal law enforcement agency in 2007, was paid approximately $19,500 in 2007 and $7,500 in 2008 by that agency under their agreement. However, he concealed this income from the Probation Department and also falsely stated that the law enforcement agency had approved Tomko operating a mortgage business from his residence.
Tomko recruited his housekeeper to apply for fraudulent mortgage loans for four properties between 2006 and 2007. He falsely inflated the income and assets of his housekeeper in order for her to qualify for these loans. Once the loans closed, Tomko fraudulently received approximately $100,000 of the proceeds by filing mechanics liens for work not performed and directing funds to himself and/or companies he owned and controlled.
Tomko also concealed income he received as a cooperator from a federal law enforcement agency, in order to fraudulently obtain student aid and grants from the United States Department of Education.
The case is being prosecuted by Assistant U.S. Attorneys Christian H. Stickan and Christos M. Georgalis, following investigation by agents of the FBI, Cleveland Office and The Office of the Inspector General for the United States Department of Education.
Tomko previously pleaded guilty in 2009 to charges related to a mortgage fraud scheme and was sentenced to three years probation in the United States District Court for the Northern District of Ohio.
Key Facts
- State: Ohio
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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