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April 2, 2009
Four people charged in a an alleged $50 million mortgage fraud scheme maintain their innocence amidst evidence that includes of multiple foreclosures, a phony title history and a straw buyer who sold his credit for $10,000.
George O. Guldi, Donald Clark MacPherson, his wife Carrie Coakley, Ethan Ellner and Dustin Dente are challenging the claims prosecutors are making regarding more than$50 million worth of mortgages on about 50 homes throughout Southampton Town beginning as early as 2002.
The group is entangled in an investigation that allegedly involved clients from a dominatrix sex club that acted as straw buyers. Wachovia alleges Guldi pocketed $1.8 million from a loan they funded.
Read story at 27 East News
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