STAMFORD, Conn. (WTNH) — A Stamford attorney has been ordered to serve 14 months in prison for his role in a mortgage fraud scheme involving dozens of properties in Fairfield County.
37-year-old Christopher Brecciano pleaded guilty in February to conspiracy to commit wire fraud and bank fraud.
According to court documents, between 2006 and 2010, Brecciano participated as the closing attorney in a conspiracy that involved the purchase of multiple single and multi-family properties. Brecciano or his co-conspirators provided at least 50 mortgage loan transactions to mortgage lenders that contained false information.
The fraudulent information included false verifications of down payments for real estate transactions, false deeds, and false HUD-1 Forms. Many of the properties involved in the scheme ended up in foreclosure or in short sale transactions. This cause lenders to lose more than $8 million.
Brecciano has been ordered to pay $8,406,638 in restitution.