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Thursday, November 3, 2011

More Lawyers Involved in More Mortgage Frauds

Last of 8 accused home swindlers convicted
The Journal News -  Completely Legal Blog by Rebecca Baker  -  October 27, 2011

The last defendant in a multimillion-dollar mortgage fraud case that officials say swindled four Westchester County families out of their homes was convicted of theft, fraud and conspiracy today.  A jury found Mildred Didio of Manhattan guilty of four counts of second-degree grand larceny and one count each of first-degree scheme to defraud and fourth-degree conspiracy. All the charges are felonies.  She faces a maximum of 15 years in state prison when she is sentenced on Jan. 25. She also could be sentenced to a minimum of five years’ probation.  Prosecutors said Didio was involved in a group of eight who stripped homes from families in Croton-on-Hudson, Yorktown, Cortlandt and Mount Vernon; and scammed two mortgage lenders out of $1.4 million. All were arrested in 2009.  The group told victims, who they found through notices of public auction and foreclosure, that they could transfer their deeds to an investor, who would hold the titles while they saved money to reclaim their home.  But once the “investor” took title, the group’s members got inflated mortgages, which they used to pay off the original mortgage and kept the remainder for themselves. The former owners have filed lawsuits to try to reclaim their losses.  Didio, 46, represented the straw buyers or acted as a settlement agents for the lenders, according to prosecutors.  Hubert “Phil” Hall, a former editor at a precursor to The Journal News, and his wife, Doreen Swenson, are serving two to six years in prison after pleading guilty to grand larceny and fraud. Prosecutors said the Tarrytown couple helped set up the phony mortgages.  David Reback, an attorney from Rye Brook, and Amerigo DiPietro of Brewster, who owned Interstate Monetary Concepts in Briarcliff Manor, pleaded guilty to their roles in the scam. Prosecutors said they were the principal players. They were sentenced to a year in jail.  Eileen Potash of Queens was convicted at trial of fourth-degree conspiracy but acquitted of grand larceny and fraud charges. She is serving five years’ probation.  Wilma Shkreli of Westwood, N.J., who posed an an investor, is to be sentenced Nov. 22 after pleading guilty to grand larceny.  This was Didio’s second trial for her role in the scam. Her first ended in a hung jury. Frank Corigliano, a lawyer from Newtown, Conn., was acquitted of all charges by the jury that convicted Potash and was hung on Didio.

4 comments:

Anonymous said...

When I went to law school, I didn't have any classes on how to become a crook.

Anonymous said...

How is this a story?
Lawyers are supposed to rip off people.
And the best money around has to do with real estate.
If you want to rob money, you rob a bank.
Follow the money.

Anonymous said...

We have legacy judges in Suffolk and elsewhere and legacy lawyers. Congenital thievery is in their genes. What do lawyers produce? Nothing. What do lawyer (parasites) take? As much as they can get away with in NY.

Anonymous said...

Lawyers are the co conspirators.Mine got paid off to not represent me during a divorce.Both lawyer worked for the defendant.To this day I am impoverished.
Mortgage fraud was the pay off I found.Ex biggest crook since Madoff.

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See Video of Senator John L. Sampson's 1st Hearing on Court 'Ethics' Corruption

The first hearing, held in Albany on June 8, 2009 hearing is on two videos:


               Video of 1st Hearing on Court 'Ethics' Corruption
               The June 8, 2009 hearing is on two videos:
         
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