David Saks: Stamford Man Admits Defrauding Mortgage Lenders in $4 Million Scheme

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Stamford Man Admits Defrauding Mortgage Lenders in $4 Million Scheme

Stamford Man Admits Defrauding Mortgage Lenders in $4 Million Scheme

U.S. Attorney's Office
District of Connecticut

David B. Fein, United States Attorney for the District of Connecticut, announced that CHRISTIAN TUDOROF, 43, of Stamford, waived his right to indictment and pleaded guilty
today before United States Magistrate Judge Joan G. Margolis in New Haven to one count of wire fraud stemming from a $4 million mortgage fraud scheme.

According to court documents and statements made in court, between December 2006 and March 2007, TUDOROF submitted mortgage applications to a number of different mortgage lenders in association with the purchase of residential properties in Florida, Arizona, and Connecticut. In many of the mortgage applications, TUDOROF provided false information and failed to disclose information to the mortgage lender. For example, after TUDOROF obtained one mortgage to purchase a home in Florida, he deliberately failed to disclose the existence of this mortgage when he applied for mortgages on the other properties purchased in his name. He also falsely represented in the mortgage applications that he intended to live in some of the homes that he intended to purchase when, in fact, he had no intention of occupying these homes.

Through this scheme, TUDOROF obtained more than $4 million in mortgages from mortgage lenders and purchased at least six properties. After he failed to service the mortgages, each of the homes he purchased was sold in foreclosure. As a result, the mortgage lenders suffered losses of more than $2 million.

TUDOROF is scheduled to be sentenced by United States District Judge Janet Bond Arterton on October 4, 2011, at which time TUDOROF faces a maximum term of imprisonment of 20 years and a fine of up to approximately $4 million.

This matter was investigated by the Federal Bureau of Investigation and is being prosecuted by Senior Litigation Counsel Richard J. Schechter.

In July 2009, the U.S. Attorney's Office and the Federal Bureau of Investigation announced the formation of the Connecticut Mortgage Fraud Task Force to investigate and prosecute mortgage fraud cases and related financial crimes occurring in Connecticut. In addition to investigating past mortgage fraud schemes, the task force is focusing on emerging crime trends that are associated with the growing tide of foreclosures, including foreclosure rescue schemes, and short sale schemes. Citizens are encouraged to report any suspected mortgage fraud activity by calling 203-333-3512 and requesting the Connecticut Mortgage Fraud Task Force, or by sending an e-mail to ctmortgagefraud@ic.fbi.gov.

The Connecticut Mortgage Fraud Task Force includes representatives from the U.S. Attorney's Office; Federal Bureau of Investigation; Internal Revenue Service - Criminal Investigation; U.S. Postal Inspection Service; U.S. Department of Housing and Urban Development, Office of Inspector General; Federal Deposit Insurance Corporation, Office of Inspector General, and State of Connecticut Department of Banking.

 




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Comment balloon 4 commentsDavid Saks • July 12 2011 03:22PM

Comments

That certainly did not go well for this chap.

Posted by Malcolm Johnston, Trenton Real Estate (Century 21 Lanthorn Real Estate LTD., Trenton, Ontario) over 8 years ago

Mortgage fraud is serious business.  Hard to believe that someone could take out 4 million in fraudulent mortagages before he was caught.

Posted by Sherri Berry, Murfreesboro TN Homes & Real Estate (Reliant Realty, Murfreesboro) over 8 years ago

It went well for the Connecticut Mortgage Fraud Task Force, representatives from the U.S. Attorney's Office, the Federal Bureau of Investigation, the Internal Revenue Service - Criminal Investigation Division, the U.S. Postal Inspection Service, the U.S. Department of Housing and Urban Development, Office of Inspector General, the Federal Deposit Insurance Corporation, Office of Inspector General, and State of Connecticut Department of Banking, thank goodness, Malcolm.

Posted by David Saks ((retired)) over 8 years ago

Slimeballs in the business do it everyday, Sherri.

Posted by David Saks ((retired)) over 8 years ago

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