Two Men Sentenced To Prison For Mortgage Fraud
HARTFORD, Conn. (AP) _ Two eastern Connecticut men have been sentenced to prison for separate mortgage frauds that conned lenders out of millions of dollars.
A federal judge in Hartford sentenced 53-year-old Michael Hodges of New London to 18 months in prison Tuesday and 30-year-old Kenneth Perkins of Groton to eight months in prison Monday. Both men pleaded guilty to fraud charges.
Prosecutors say Hodges and 15 other people who have been convicted ran a scheme involving more than 200 mortgages that caused lenders to lose more than $9 million. Authorities say the con involved straw buyers and bogus mortgage applications to buy New London County properties.
Officials say Perkins and 13 others convicted in the other fraud scheme that cost lenders $4.75 million used sham sales contracts to obtain real estate loans.
(Copyright 2012 by The Associated Press. All Rights Reserved.)