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New York man faces sentencing for mortgage fraud

NEW HAVEN, Conn. - Federal prosecutors say a former corrections officer in New York should be sent to prison for more than two years for his role in a mortgage fraud scheme, while his attorney is seeking a one-year sentence.

Jacques Kelly of Poughkeepsie, New York, is scheduled to be sentenced Monday in federal court in New Haven. He was found guilty in April of charges stemming from the fraudulent purchases of properties in New Haven.

Authorities say Kelly and others conspired to defraud mortgage lenders of millions of dollars of mortgage proceeds by inflating the contract price that the sellers of the properties had actually agreed to accept. Prosecutors say the loss attributable to Kelly was more than $1.8 million.

Ten defendants have been convicted in the conspiracy.


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