An attorney is getting eight months home confinement for failing to report a Needham-based mortgage fraud.
Currently residing in New York, Sean Robbins, 39 was sentenced to home confinement as part of a three-year probationary period, and was ordered to pay $300,000 in restitution, according to the Daily Business Review. He is charged with misprision of felony--simply put, failing to report a felony to authorities.
of 33 counts of wire fraud and five counts of money laundering in September, according to the office of U.S. District Attorney Carmen M. Ortiz.
According to a release from Ortiz' office:
The evidence showed that when Foley and an associate acting under his direction closed the loans, documents sent to the mortgage lenders falsely represented that funds ranging from $9,300 to $39,000 had been collected at the closings from the borrowers. In actuality, the borrowers made no down payments and paid no funds at the closings.
Foley was sentenced to 72 months in prison and ordered to pay $2.2 million, the DBR report also notes. Foley's appeal is pending.
See the full report on the Daily Business Review.