Man Sentenced for Defrauding Lenders and ID Theft

admin —  August 10, 2012 — 1 Comment

Augustus C. Okoye, 49, Milton, Massachusetts, was sentenced in federal court for engaging in a mortgage fraud scheme involving the theft of another person’s identity.

As previously reported on Mortgage Fraud Blog, Okoye used his brother’s name, social security number, and date of birth to set up a sham sale of his Milton, Massachusetts home to avoid foreclosure and obtain over $74,000 in loan proceeds. Okoye also used his brother’s identity to purchase two additional investment properties in the Boston, Massachusetts area for which he received $60,000 in kickbacks from a convicted developer/real estate agent. In perpetrating his fraud, Okoye made false statements to mortgage lenders about the borrower’s identity, monthly income, employment, and/or intent to occupy the properties in order to obtain mortgage loans for these real estate purchases.

Okoye was sentenced by U.S. District Judge Richard G. Stearns to 21 months in prison, to be followed by one year of supervised release. Judge Stearns also ordered Okoye to pay restitution of $454,207. On March 23, 2010, Okoye pleaded guilty to three counts of wire fraud and one count of identity fraud.

United States Attorney Carmen M. Ortiz and Steven Ricciardi, Special Agent in Charge of the United States Secret Service made the announcement today. The Wellesley Police Department assisted the U.S. Secret Service in the investigation of this case. The case was prosecuted by Assistant U.S. Attorney Ryan M. DiSantis of Ortiz’s Economic Crimes Unit.



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