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Sarasota man convicted of mortgage fraud conspiracy

12:40 PM, Nov 7, 2013   |    comments
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TAMPA, Fla. -- A Sarasota man that was caught up in a mortgage fraud conspiracy was sentenced on Wednesday, according to the Department of Justice.

J. Patrick Brester, 41, received six years in federal prison for conspiring to and committing wire fraud affecting a financial institution.

Brester was also ordered to forfeit $1,995,800 which was traceable to the monies involved in the conspiracy.

Based on evidence and court documents, Brester along with Michael Chadwick, Matthew Landsman, Joshua Unger and others engaged in fraudulent cash-back-to-buyer mortgage transactions involving the 2007 purchase and sale of condominiums at Vintage Grand in Sarasota, Florida.

Chadwick was sentenced to 12 months and one day, Landsman received two years and Unger was ordered to serve a 15-month prison term for their roles in the scheme.

Each of the four men was ordered to pay restitution to the financial institutions in the amount of $1,266,156.

First Coast News

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