MANHATTAN (CN) – Two attorneys stole nearly $4 million through mortgage fraud, federal prosecutors say. Dustin Dente and Brandon Lisi are accused of cooking up documents for straw buyers to get mortgage loans, then stealing the money for themselves.
Dente, 38, of West Islip, N.Y., and Lisi 36, of Glen Cove, N.Y., each face five counts of fraud.
After submitting the bogus paperwork, “the defendants simply stole all or part of the loan proceeds for their own profit, and did not repay the prior mortgage loans on the properties,” the U.S. Attorney’s Office said in announcing the indictments.
If convicted of all charges, the men face up to 150 years in prison and millions of dollars in fines.