A Miller Place man was sentenced in federal court Tuesday to 51 months in prison for mortgage fraud.
Frederick Warren, 38, was involved in a $9 million scheme in which he defrauded various lending institutions by using fake “straw identities” to apply for mortgage loans, which were then quickly defaulted on, according to a release from Preet Bharara, the United States Attorney for the Southern District of New York
Warren pleaded guilty in April and was one of 12 people charged in 2009 in the scheme which involved dozens of Long Island and New York City residential properties. He was also sentenced to three years of supervised release and was ordered to forfeit $1,993,000 and to pay a $200 special assessment fee.
The loan officer was sentenced after pleading guilty to one count of conspiracy to commit wire fraud and bank fraud and one count of wire fraud.
