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Guilty Plea in Massive Mortgage Fraud
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February 5, 2009
A Sarasota attorney is the second defendant of four to plead guilty in an $83 million mortgage fraud scheme. He faces up to 30 years in prison and as much as $1.5 million in fines.
John Yanchek pleaded guilty to mortgage fraud, making false statements to banks and money laundering. As a felon, Yanchek gives up his right to practice law in Florida. Others named in the 96-count indictment include Neal Mohammad Husani, Michael Tringali and Larry Nardelli. Tringali entered a plea in November, Nardelli claims he is innocent and Husani remains a fugitive.
Yanchek faces up to 30 years in prison, but prosecutors have recommended that he be imprisoned for eight to 10 years.
Read story at The Herald Tribune
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