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Calculating Mortgage Fraud
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April 17, 2009
A developer who participated in a multimillion-dollar mortgage fraud scheme was sentenced to 41 months in prison said he is grateful the judge gave him less than 60 months. The sentence was determined after almost three days time calculating lender losses.
Michael Tringali was denied a request to begin his imprisonment after driving his children to college this fall. He was ordered to forfeit nearly $7 million and faces a restitution hearing within the next 30 days that could result in owing millions more.
Tringali conspired with Neil Mohammad Husani and John Yanchek in one of the larges mortgage fraud schemes in Florida history. Tringali publicly apologized to the community and his family and admitted that his crimes were done out of greed and selfishness.
Read story at The Herald Tribune
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