A mortgage fraud case in Worcester, a city in Worcester County, Massachusetts, that allegedly cost a real estate lender more than $1 million for lending mortgage loans to buyers of residential properties in the area. The federal charged is particularly filed to a citizen of Ghana and former West Boylston resident who purchased several residential properties in the district.
Rowland Kojo Adjei Sapong, a 40 year old Ghana, a country located in West Africa resident, was charged on January 11, 2011 with wire fraud— criminally fraudulent activity where a person concocts a scheme to defraud or obtain money by false promises and representations. He bought several residential properties — 17 multi- family homes between 2002 and 2008.
Sapong converted the residential properties into more than fifty- condominium units, which were eventually foreclosed by the lenders, according to the United States attorney’s office.
He allegedly conspired with various home buyers and a mortgage broker, according to the case filed in U.S District Court.
The prosecutor in the district court said Sapong acquired the residential properties with finances secured through falsified applications, including putting wrong information about his immigration status, employment, and income.
John M. Goggins, Sapong’s attorney could not be reached for a statement regarding his client’s case.
Sapong will be facing up to twenty- years in federal prison, and about $250,000 fine if found guilty. In August 2010, he was arrested, and has been in custody since.
Sapong allegedly help buyers to supply false information on their mortgage applications and the residential properties were put up for sale at inflated prices.