Legal Ethics
Real Estate Lawyer Earns Perhaps $30K, Gets 57 Months for Closing Fraudulent Loans
Attorney John Chaffo Jr. probably made no more than $18,000 to $30,000 from closing some 60 fraudulent real estate loan transactions for a fee of between $300 and $500.
But because lenders lost between $1 million and $2.5 million as a result, a federal judge yesterday sentenced the 50-year-old Chaffo to a 57-month prison term, reports the Pittsburgh Post-Gazette.
Chaffo was found guilty after a July trial of 11 of 13 counts of conspiracy and wire fraud in the Western District of Pennsylvania case.
Earlier coverage:
Pittsburgh Tribune-Review: “Attorney: Murrysville client ‘didn’t make a dime’ in alleged mortgage fraud”
