Pennsylvania Broker Will Be Sentenced In February

admin —  January 27, 2009 — Leave a comment

Richard J. Thomas, Pittsburgh, Pennsylvania, was set to be sentenced November 20, 2008, however his sentencing has been continued to February 20, 2009, at 3 pm.

As previously reported by Mortgage Fraud Blog, Thomas pleaded guilty to a charge of mail fraud before United States District Judge Joy Flowers Conti.

In connection with the guilty plea, Assistant United States Attorney Luke Dembosky advised the court that, from in and around May 2002 to in and around February 2007, Thomas, while employed as a mortgage broker with Penntowne Mortgage Group, LLC, defrauded lenders by taking out second and third mortgages on residential properties without the owners’ knowledge, diverting the proceeds and other mortgage transaction monies to his own use. The total losses in the scheme are $961,704.

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