Siblings Indicted for Conspiracy

Rachel Dollar —  February 18, 2016 — Leave a comment

Janna Nassida, 45, West Mifflin, Pennsylvania, and James Nassida, 48, Pittsburgh, Pennsylvania, were charged by a federal grand jury in a two count indictment with wire and bank fraud conspiracy.

According to the indictment, from 2002 to 2008 James Nassida and his sister Janna Nassida knowingly conspired with other individuals known to the grand jury to defraud lenders and consumers. James and Janna Nassida worked at Century III Home Equity, a mortgage broker firm. The fraud scheme involved the submission of loan applications to lenders that contained material misrepresentations about the borrowers’ financial conditions, such as inflating borrowers’ incomes and assets. James and Janna Nassida, along with others who worked at Century III, also submitted bogus supporting documentation for the misrepresentations contained in the applications, as well as appraisals that overstated the values of the properties serving as collateral for the loans.

The law provides for a maximum total sentence of 60 years in prison, a fine of $2,000,000 or both.

The indictment was announced by United States Attorney David J. Hickton.  Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.

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