Michael Howard Clott, a/k/a “Michael Howard,” Bethesda, Maryland, was sentenced in Manhattan federal court to 21 years and 7 months in prison for engaging in a series of real estate investment and mortgage fraud schemes in which he attempted to steal more than $10 million from his victims.
In 2008 and 2009, Clott ““who had multiple previous fraud convictions ““ used an alias, stolen identities, and forged documents to lure victims into giving him millions of dollars for purported real estate investments and home purchases. Clott then misappropriated the money, using at least $1.3 million to purchase a hair salon for his daughter.
As previously reported by Mortgage Fraud Blog, after pleading guilty to three fraud schemes in December 2009, Clott fled while on bail, and was recaptured in April 2010 in Massachusetts. He was then charged with bail jumping in connection with a fourth investment fraud scheme, to which he also pled guilty, in July 2011. Clott was sentenced today by U.S. District Judge Richard M. Berman.
Preet Bharara, the United States Attorney for the Southern District of New York, announced the sentence.