Posted Apr 13, 2011 02:48 pm CDT
An 82-year-old former lawyer and state representative has been convicted by a federal jury in Hartford, along with three other defendants, of participating in a mortgage fraud scheme. It involved some $10 million in mortgage money obtained on dozens of Connecticut homes in transactions involving shady sellers, straw buyers, fraudulently inflated appraisals and other dubious practices.
Morris Olmer and his convicted co-defendants now face potential prison sentences that could exceed 20 years, according to the Day. Others pleaded guilty earlier and also face sentencing.
After a monthlong trial and four days of deliberation, the jury hung concerning a fifth defendant, attorney David Avigdor, 57, who is a prominent New Haven rabbi, the newspaper reports. The government hasn’t yet decided whether to retry him.
Additional and related coverage:
New Haven Independent: “4 Convicted In Fraud Scam; Mistrial For Rabbi”
New Haven Independent: “Ex-Lawyer Charged With Swindling Client”