NEW HAVEN, Conn. (WTNH) — A Connecticut paralegal will spend just over a year in prison after being convicted of mortgage fraud.
The sentence was handed down in New Haven’s U.S. District Court yesterday. Jacqueline Polverari, 47, of Branford owned and operated multiple companies specializing in preparing and conducting real estate closings. According to court documents, Polverari kept the loan proceeds from six closings between January 2007 and May 2009. She was supposed to use the money to pay off the pre-existing mortgage loans on the properties. Her actions cost lenders close to $2 million.
In addition to the jail time, Polverari will spend three years on supervised release. She must also pay close to $2 million in restitution.