Home Boston Press Releases 2010 Former Springfield Resident Pleads Guilty to Mortgage Fraud
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Former Springfield Resident Pleads Guilty to Mortgage Fraud

U.S. Attorney’s Office November 05, 2010
  • District of Massachusetts (617) 748-3100

BOSTON—United States Attorney Carmen M. Ortiz; William P. Offord, Special Agent in Charge of the Internal Revenue Service Criminal Investigations, Boston Field Division; and Richard DesLauries, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division, announced today that EDGAR CORONA pleaded guilty before U.S. District Judge Michael A. Ponsor to wire fraud and money laundering.

At today’s plea hearing, the prosecutor told the court that had the case proceeded to trial, the government’s evidence would have proven that from 1998 through 2002, Corona, 32, participated in a multi-million-dollar mortgage fraud scheme involving the sale of distressed properties at inflated prices. Corona served as a “runner,” who recruited prospective buyers for the land flippers. Twelve other individuals were previously convicted in the same scheme.

Judge Ponsor sentenced the defendant today to time served and three years of supervised release and advised the defendant that it was likely that he would be deported.

The case was investigated by the Internal Revenue Service, Criminal Investigation and the Federal Bureau of Investigation. It was being prosecuted by Assistant U.S. Attorney Karen Goodwin of Ortiz’s Springfield Branch Office.

Mortgage fraud is a key focus of the Department of Justice. The Department of Justice alongside its federal, state, and local partners is committed to investigating and prosecuting significant financial crimes. The Department is committed to combating discrimination and fraud in the lending and financial markets, and recovering proceeds for victims of financial crimes.

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