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RI lawyer sentenced in mortgage fraud
$1.1M used to buy three houses
Updated: Wednesday, 16 May 2012, 6:46 AM EDT
Published : Tuesday, 15 May 2012, 11:18 PM EDT
PROVIDENCE, R.I. (AP) -- A disbarred Rhode Island attorney has been sentenced to federal prison for his role in a $1.1 million mortgage fraud scheme.
Federal prosecutors said Tuesday that 66-year-old James Levitt of Pawtucket was sentenced to a year in prison. He was also fined $25,000 and ordered to pay $610,500 in restitution.
Levitt pleaded guilty in February to three counts of bank fraud and two counts of filing false tax returns.
Prosecutors say Levitt used fraudulent information to apply for and receive three mortgages totaling more than $1.1 million between July 2006 and November 2007.
The mortgages were used to purchase two properties in Providence and one in East Providence.
Prosecutors also say Levitt conducted the closings on the properties despite having a financial interest.
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