Matthew S. Listro, 38, South Windsor, Connecticut, was sentenced by United States District Judge Stefan R. Underhill in Bridgeport to two years of probation for his involvement in a mortgage fraud scheme. Judge Underhill also ordered Listro to pay a fine in the amount of $10,000. On October 18, 2007, Listro pleaded guilty to one count of wire fraud.
According to documents filed with the Court and statements made in court, in April 2003, Listro, doing business as Prestige Mortgage of East Hartford, prepared a Uniform Residential Loan Application (URLA) in connection with a purported purchase of real estate between two individuals. Listro prepared the URLA on behalf of one of the individuals and submitted the URLA to Chase Manhattan Mortgage Corporation in an attempt to qualify that individual for a loan in the amount of $322,700 allegedly to purchase property in Coventry, Connecticut. However, the financial information and documents that Listro provided to Chase were false and fraudulent. Specifically, Listro represented to Chase that the individual was a regional manager of a jewelry retailer when she was not, that she earned a substantially greater salary than she actually earned, and that she owned substantially more assets than she actually owned.
In addition, Listro provided to Chase documents to support the URLA, including a statement of an investment account, an IRS form W-2, and an earnings statement, all of which he knew were materially false and fraudulent. Listro has admitted that he submitted false documents to Chase in order to increase the likelihood the individual would qualify for the loan, and to benefit financially by brokering the loan.
This matter is being investigated by the Federal Bureau of Investigation. The case is being prosecuted by Assistant United States Attorney Brian P. Leaming.