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Unlicensed Mortgage Broker Sentenced
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April 29, 2009
A St. Petersburg man has been sentenced again for fraud, this time mortgage fraud. He has been ordered to pay over $2 million in restitution and almost $6 million in fines after leaving a long trail of deceit and mortgage fraud.
Victor Thomas Clavizzao was sentenced to five years in federal prison. He pleaded guilty to mortgage fraud when he was caught acting as a mortgage broker on Florida properties purchased with fraudulent loans. He was also accused of stealing a notary stamp and forging documents.
Co-conspirator, Mark Lepzinski, of Clearwater, Fla. assisted Clavizzao by submitting fraudulent information to banks using falsified income information to secure mortgage loans. Clavizzao also used artificially inflated appraisals on some of the properties.
Lepzinski was previously sentenced to 13 months in federal prison.
Read stories at BizJournals and St. Petersburg Times
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