Connecticut lawyer sentenced in mortgage scam

by Ryan Smith21 Mar 2014
A Connecticut man has been sentenced to less than two years in prison after pleading guilty to mortgage fraud.

Lawrence Dressler, 47, pleaded guilty in October to one count of conspiracy to commit mail, witre and bank fraud. He was sentenced this week to 20 months in federal prison. He was also sentenced to three years of supervised release after the completion of his prison term, and ordered to pay $403,451 in restitution and forfeit $5,100.

Dressler was a closing attorney in a number of fraudulent transactions in 2007 and 2008, according to the New Haven Register. In that capacity, he helped obtain more than $1.7 million in fraudulent mortgages.

Dressler is one of four attorneys convicted in connection with the scheme. According to prosecutors, the attorneys fraudulently obtained mortgages using phony loan applications and falsified documents. Over two years, the four obtained more than 50 mortgages on multifamily homes in New Haven, Conn., listing the sale prices for the homes at anywhere from $30,000 to $145,000 above the actual price.

Another of the four attorneys, former Milford, Conn., mayoral candidate Genevieve Salvatore, pleaded guilty to her role in the scheme in November and was sentenced to two years in prison earlier this month.