New York man faces sentencing for mortgage fraud

Gavel legal justice shutterstock_161367830

NEW HAVEN, Conn. (AP) — Federal prosecutors say a former corrections officer in New York should be sent to prison for more than two years for his role in a mortgage fraud scheme, while his attorney is seeking a one-year sentence.

Jacques Kelly of Poughkeepsie, New York, is scheduled to be sentenced Monday in federal court in New Haven. He was found guilty in April of charges stemming from the fraudulent purchases of properties in New Haven.

Authorities say Kelly and others conspired to defraud mortgage lenders of millions of dollars of mortgage proceeds by inflating the contract price that the sellers of the properties had actually agreed to accept. Prosecutors say the loss attributable to Kelly was more than $1.8 million.

Ten defendants have been convicted in the conspiracy.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus