Jacksonville Mortgage Fraud Conspirators Sentenced

admin —  April 24, 2009 — 3 Comments

Patrick M. Singletary, Jacksonville, Florida, Robert D. Singletary, Jacksonville, Florida and Peter J. Russo, Jacksonville, Florida have been sentenced on charges of conspiracy to commit wire fraud and making false statements to the United States Department of Housing and Urban Development.

Patrick Singletary was sentenced to 18 months in federal prison and ordered to forfeit $1 million. Robert D. Singletary and Peter J. Russo were each sentenced to serve one year in federal prison. Robert Singletary was ordered to forfeit $1 million and Russo was ordered to forfeit $500,000. The Court set a hearing for July 21, 2009 to determine the amount of restitution to be ordered in each of the defendants’ cases. The defendants are to report to an institution designated by the United States Bureau of Prisons no later than July 30, 2009. All three defendants had pleaded guilty in October 2008.

According to court documents, the defendants participated in a scheme to defraud the United States Department of Housing and Urban Development. The defendants caused false and fraudulent documentation to be submitted in the loan approval process while securing federally-insured FHA mortgages for owner-occupants purchasing singlefamily residential properties in Jacksonville between 1997 and September 2004. The court found that Patrick Singletary and Robert Singletary were responsible for a loss to HUD in excess of $1 million. Russo was responsible for a loss of $500,000.

This case was investigated by the Federal Bureau of Investigation and the United States Department of Housing and Urban Development, Office of the Inspector General. It was prosecuted by Assistant United States Attorney Mark B. Devereaux.

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3 responses to Jacksonville Mortgage Fraud Conspirators Sentenced

  1. All our international transaction occurs in USD & not in INR. This occurs no matter whom we trade with. For example we buy crude oil from Saudi Arabia, yet we pay them in $ & not in Rial or INR. Why should we use $ in payment, why not INR or some other country be the trading currency. This not the case with India, all over the world they do this. Other dominant currency is euro. But why should international monetory be controled by rich nations, why not it be poor nation. Why should a fate of one country be decided by other country ?

  2. I knew of them when April 29, 2009 at 2:29 pm

    Better late than never! $1 million each was not enough.

  3. Is it okay to repost this in my blog?

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