Tuesday, February 5, 2013
Home confinement for Needham lawyer who failed to report business fraud.
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. A jury found his former employer, a Marc Foley, 46, guilty 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…
Wednesday, December 19, 2012
After pleading guilty earlier this year, the 52-year-old form Needham has been spared jail, although fined and placed on probation.
Disbarred and arrested, a Needham lawyer has been spared jail time for a Ponzi scheme he pled guilty to running earlier this year. David Spector, 52, of Needham has been fined $607,024 and change, as well as five years probation with the first year in home confinement, according to a Providence Journal piece. He will also pay for his home monitoring, which begins on Jan. 4, and undergo mental health treatments. While the judge said he acted out of greed, he did agree with the defense attorney who called it a "one-time aberration" spurred by psychological weakness. The Needham former lawyer pled guilty on May 16 in U.S. District Court in Providence, RI to three counts of wire fraud and one count of money laundering related to his work as…
Friday, September 21, 2012
Marc Foley could be sentenced to up to 20 years in prison for wire fraud and additional prison time for money laundering.
A former real estate attorney from Needham could spend time in prison after he was convicted of mortgage fraud in federal court on Thursday, Sept. 20. A jury found Marc Foley, 46, guilty of 33 counts of wire fraud and five counts of money laundering, according to the office of U.S. District Attorney Carmen M. Ortiz. According to a news release posted on the U.S. District Attorney's website: Evidence presented during the seven-day trial showed that in December 2006 and January 2007 Foley participated in a scheme to defraud six mortgage lenders in connection with $4.9 million in real estate loans for the purchases of 24 condominium units in Dorchester. The evidence showed that when Foley and an associate acting under his direction closed …
Wednesday, May 16, 2012
David L. Spector, 52, pled guilty to wire fraud and money laundering on May 16 in U.S. District Court in Providence.
A Needham man pled guilty on Wednesday, May 16 in U.S. District Court in Providence, RI to three counts of wire fraud and one count of money laundering related to his work as a mortgage attorney in Rhode Island and Massachusetts. David L. Spector, 52, of Needham, admitted in court that he had operated a Ponzi scheme, defrauding mortgage holders and lending institutions of more than $600,000, according to a press release issued by the office of U.S. Attorney Peter F. Neronha. “Spector admitted to the court that between April and October 2007 he conducted real estate mortgage refinance closings for properties in Plymouth and Lawrence, MA and Westerly, RI. As part of the closing process, Spector had the proceeds of the mortgages obtained by …
josephzgaylor
2:07 am on Thursday, May 17, 2012
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