Peter Faccaro, 44, St Louis, Missouri, was sentenced to 30 months in prison for wire fraud and misuse of social security number followed by three years supervised release for using false names, social security numbers and other documents to obtain loans to purchase nine properties in St. Louis, Washington, Missouri and Grafton, Illinois. He was also ordered to pay $641,523.66 in restitution.
“Fraudulent transactions of these kinds have a devastating effect on neighborhoods as they adversely impact property values and increase the foreclosure rates,” said United States Attorney Catherine L. Hanaway.
Faccaro, utilizing the names of Peter Faccaro, Anthony J Faccaro, Michael Moore, John Brown, and Peter Miller as per the indictment, conspired to defraud various mortgage brokers between April 2002 and September 2006 by misusing social security numbers and providing false documentation to lenders. Faccaro pled guilty to wire fraud and misuse of social security number on February 9, 2006.
Properties involved per the indictment:
6301 Meadowlake Drive, Washington, MO
2010 Victor, St Louis, MO
2827 Hickory, St Louis, MO
2716 Indiana, St Louis, MO
1263 Charmwood, St Louis, MO
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.