Mortgage Fraud Conspirators Sentenced

admin —  April 29, 2009 — Leave a comment

Victor Thomas Clavizzao, 46, St. Petersburg, Florida has been sentenced by U.S. District Judge James S. Moody to 5 years in federal prison for conspiring to commit mortgage fraud. The court also ordered Clavizzao to pay $2,074,895.60 in restitution and to forfeit an additional $5,946,300. Clavizzao had entered a guilty plea on September 23, 2009.

According to court documents, Clavizzao acted as mortgage broker in the purchase of 13 different properties. Clavizzao conspired with other to submit false and fraudulent information (e.g., fraudulently inflated income) to various lenders in order to induce the lenders to fund bad loans.

Clavizzao’s co-defendant, Mark Lepzinski, 51, Clearwater, Florida, a Pinellas property flipper who obtained fraudulent loans with Clavizzao’s help, was previously sentenced by U.S. District Judge James D. Whittemore to 13 months in federal prison for his role in the conspiracy.

United States Attorney A. Brian Albritton made the announcement. This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Thomas N. Palermo.

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