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Massachusetts Men Plead Not Guilty in Real Estate Fraud

Monday, November 08 2004 04:40
Ardolino and Hutchison Plead Not Guilty to Superseding Indictment

Accused of allegedly participating in a mortgage scheme that resulted in $20,000 in illegal profits, suspended police officer Chester J. Ardolino and former city worker Michael J. Hutchison, both of Springfield, pleaded not guilty a second time to fraud and money laundering charges. Their trial is scheduled to begin November 29, 2004 in U.S. District Court. The plea was to a superseding indictment to cover anticipated changes in federal sentencing laws.

Ardolino is accused of providing Hutchison's sister with false employment records from a bar he owned an interest in to help her obtain a mortgage. Both men are accused of conspiring to produce falsified paperwork to support the loan and inflate the value of the property at 11-15 Belmont Place, Springfield, Massachusetts, then splitting the profits from a bogus sale. The defense argues that Ardolino and Hutchison entered into a partnership, fixed up the home and made regular payments on the mortgage.

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Rachel Dollar 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.
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