Michelle M. Borzillo, 59, Bristow, Virginia, a former attorney with the Federal Deposit Insurance Corporation (FDIC) was sentenced to 12 months and one day in prison, followed by two years of supervised release, for defrauding Wells Fargo Bank in connection with the sham short sale of her home to her live-in boyfriend. She was also ordered to pay $288,497 in restitution and to forfeit the proceeds of her offense.
Borzillo pleaded guilty on November 17, 2015 to committing bank fraud. According to court documents, the defendant was a senior attorney at the FDIC until September 2014. In 2007, she purchased a home in Nokesville, Virginia, for $850,000, with mortgages totaling $807,500 from Wells Fargo Bank. In 2013, she engineered the short sale of her Nokesville home to her boyfriend, who had been living with her at the property for several years. Continue Reading…