Mortgage Fraud Scheme In Connecticut

Mortgage Fraud
Mail Wire Fraud

According to the Associated Press, Federal authorities say Michael Russo and Melissa Valentin have been sentenced for a mortgage fraud scheme in Connecticut. Each pled guilty to plot to commit wire and mail fraud.

Russo who is a licensed real estate sales broker fraudulently purchased 8 properties which eventually concluded in foreclosure, subsequently producing losses of investment to the investors of in excess of more than $1.7 million according to the U.S. Attorney's office. He was sentenced this week to 21 months in prison.

Authorities say Valentin bought about five houses in the Connecticut area by providing false information on mortgage loan applications. Valentin received an 18 month-sentence for this crime of mortgage fraud, the last half of which she must spend in home confinement.

If you, a friend, or family member is charged, arrested or under investigation for  Mortgage Fraud, Mail Fraud, or Wire Fraud, Mr. Cohen can help! Click here to read what you should do next.