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Renovations Turned to Fraudulent Mortgages
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April 24, 2009
Three men that were accused of flipping multiple homes in Florida and then helping buyers fraudulently obtain purchase mortgages have been sentenced to at least 12 months in prison.
Patrick Singletary received an 18-month sentence for his role in the fraud scheme, while his brother, Robert Singletary and Peter Russo received 12 months. The men were indicted on multiple charges in 2005 and had originally faced hundreds of years in prison.
Prosecutors had reportedly said they were seeking $50 million in forfeiture, at that time, and considered taking Patrick Singletary's partial ownership in a nightclub called Plush. Currently, the Singletary brothers were ordered to forfeit $1 million each, and Russo $500,000.
Read story at Jacksonville News
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