Massachusetts Man Sentenced To Prison For Mortgage Fraud

By KIMBERLEY HAAS A real estate developer has been sentenced to four years in prison for his involvement in a mortgage fraud scheme involving at least two dozen loan transactions totaling $6.5 million. The actions of George Kritopoulos, 50, resulted in more than $3.8 million in losses to lenders, according to authorities at the United States Department of Justice. Kritopoulos, of Salem, was convicted by a federal jury of one count of conspiracy, two counts of wire fraud, six counts of bank fraud, one count of aiding the preparation of a false income tax return, and one count of obstruction of justice on May 27. Kritopoulos was originally charged in September 2018 along with co-defendants Joseph Bates III and David…

Victims Of Mortgage Ponzi Scheme Can Seek Compensation

By KIMBERLEY HAAS People who were victimized by what investigators have called the biggest Ponzi scheme in New Hampshire history can apply for compensation. In a news release, officials from the state’s Department of Justice announced that victims of Financial Resources Mortgage, Inc., and CL&M, Inc., can start filing applications to seek compensation from the FRM Victims’ Contribution Recovery Fund. People can submit an application either by printing, filling out, and mailing the paper version or by completing and sending the electronic version. The application deadline is May 18. After Financial Resources Mortgage collapsed in 2009, the U.S. Securities and Exchange Commission charged Scott Farah of Meredith, NH, and Donald Dodge of Belmont, NH, claiming they operated a fraudulent Ponzi…

Home Depot To Pay $20.75M Over Lead Paint Violations

Home Depot will pay $20.75 million under a proposed settlement after its contractors in states across the country allegedly failed to take proper steps to reduce the spread of lead dust and paint chips during renovations, the Environmental Protection Agency and Department of Justice announced Thursday. In addition to the fine, the settlement requires Home Depot to implement a comprehensive, corporate-wide program to ensure that the firms and contractors it hires to perform work are certified and trained to use lead-safe work practices to avoid spreading lead dust and paint chips during home renovation activities.   “These were serious violations. The stiff penalty Home Depot will pay reflects the importance of using certified firms and contractors in older home renovations,” said…