Quitugua plead guilty to wire fraud on February 1, 2013 and was sentenced to thirty months in prison with credit for time served. He was placed on supervised release for 5 years. He was ordered to pay restitution of $124,514.40 and ordered to pay a total of $624,614.40 in criminal monetary penalties. He was released from prison on September 3, 2015.
Anthony Cruz Quitugua, 38, Phoenix, Arizona, was arrested on May 23, 2012, to face charges of mortgage fraud. In May of 2011, a federal grand jury in Phoenix returned a 15-count indictment against Quitugua, which alleges that he defrauded mortgage lenders out of more than $3.5 million dollars. Quitugua knew about the investigation of his activities and abruptly left Phoenix just before the indictment was returned. He was apprehended in Winslow, Arizona, on the arrest warrant for the charges.
The grand jury indictment alleges that Quitugua orchestrated straw purchases of high-end properties at inflated prices and arranged for mortgage loans on the properties based on false statements to the lenders. Quitugua allegedly pocketed almost $640,000 from the deals, and all of the properties subsequently went into foreclosure.
The indictment includes two counts of making false statements on loan applications and 13 counts of wire fraud. Convictions for these offenses carry a maximum penalty of 30 years imprisonment, a $1 million fine, or both. In determining an actual sentence, U.S. District Judge Susan R. Bolton will consult the U.S. Sentencing Guidelines, which provide appropriate sentencing ranges. Judge Bolton, however, is not bound by those guidelines in determining a sentence.
An indictment is simply the method by which a person is charged with criminal activity and raises no inference of guilt. An individual is presumed innocent until competent evidence is presented to a jury that establishes guilt beyond a reasonable doubt.
The investigation preceding the indictment was conducted by the United States Secret Service. The prosecution is being handled by Monica Klapper, Assistant U.S. Attorney, District of Arizona, Phoenix.