US Attorney’s Office Collects Over $330,000 in Restitution from Defendant in Mortgage Fraud Scheme | USAO-NDOH
Acting U.S. Attorney Michelle M. Baeppler announced that the Financial Litigation Program (FLP) of the U.S. Attorney’s Office for the Northern District of Ohio has collected $333,549.82 in restitution from a defendant convicted of participating in a $40 million mortgage fraud scheme.
According to court records, a Notice of Judgment Satisfaction was approved for Defendant John J. Dubay on Monday, May 23, 2022. In 2014, Dubay was found guilty by a jury of bank fraud and conspiracy to commit fraud. banking. Dubay and others were part of a mortgage fraud conspiracy involving dozens of properties along Florida’s Gulf Coast. Under the scheme, Dubay and others acted like straw buyers who made misrepresentations, misrepresentations and other omissions in the mortgage application process.
As a result of this scheme, Dubay and others obtained numerous home mortgages under false and fraudulent pretenses with a total face value of approximately $40 million, many of which ended in default. and a seizure.
Dubay was sentenced to prison in September 2015 and ordered to pay $333,549.82 in restitution for his role in the plot.
This case was investigated by the FBI. The financial dispute was handled by Assistant U.S. Attorney Suzana K. Koch. This case was prosecuted criminally by Assistant U.S. Attorneys Robert J. Patton and Om Kakani.
The United States Attorney’s Office is responsible for the enforcement and collection of civil and criminal debts owed to the United States and criminal debts owed to victims of federal crimes. The law requires defendants to compensate victims of certain federal crimes who have suffered physical injury or financial loss.
While restitution is paid to the victim, criminal fines and felony assessments go to the department’s Crime Victims Assistance Fund, which distributes funds collected to federal and state victim compensation programs and assistance to victims.
Forfeited assets deposited in the Department of Justice’s Asset Forfeiture Fund are used to return funds to victims of crime and for various law enforcement purposes.