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Long Island man sentenced for mortgage fraud

A Miller Place man was sentenced to 51 months in prison in federal court in Manhattan on Tuesday for his role in a $9 million mortgage fraud scheme involving Long Island and New York City properties.

Frederick Warren, 38, was accused of helping to set up phony real estate deals that used straw borrowers and false information to obtain millions in mortgage loans that were quickly defaulted on. He was one of 12 people charged in 2009.

Warren pleaded guilty to conspiracy and wire fraud in April. He sought a sentence of 24 months, but U.S. District Judge Naomi Buchwald said he had tried to mislead her about the extent of his role in a sentencing memorandum and did not appear to have learned his lesson.

He was the eleventh defendant to plead guilty in the scheme, including Eric Finger, a Mineola real estate attorney. Prosecutors said Warren was "heavily involved" in the conspiracy and received fraudulent proceeds of as much as $1 million.

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