Connecticut man sentenced to time behind bars for mortgage fraud scheme

TRUMBULL, Conn. (WTNH) — A Trumbull man has been sentenced to time in prison for participating in a mortgage fraud scheme, involving dozens of properties in Fairfield County.

Mohammed N. Islam, also known as Tanveer, was sentenced Tuesday to 14 months in jail, followed by 3 years of supervised release.

According to court documents, between 2006 and 2013, Islam participated in a mortgage fraud conspiracy that involved the purchase of numerous single and multi-family properties. Those properties were primarily in Bridgeport, Norwalk and Stamford. During the scheme, Islam and those working with him provided false information to mortgage lenders, including false verifications of applicant income, down payments and real estate transactions.

Through the scheme, lenders suffered losses of more than $8 million. Islam was ordered to pay restitution in the amount of nearly $5.2 million. Islam plead guilty to the charges against him earlier this year.

 

 

 

 

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