"U.S. Attorney William J. Hochul, Jr. announced today that Elsy Alvarez, 61, of Snyder, New York, pleaded guilty before U.S. District Court Richard J. Arcara to a felony charge of wire fraud affecting a financial institution. The charge carries a maximum penalty of 30 years in prison, a fine of $1,000,000 or both."


KBB at 22:53 2010-09-16 said:
Seriously??? I find it very hard to believe that there weren't questionable items in the files that were submitted. And once again, we learn from the mistakes. But look at the monetary price and the price of integrity to which there will not be an allocation of a dollar amount. Permalink
Steve2007 at 08:31 2010-09-17 said:
I agree with you KBB> Obviously this didnt all happen in one day. Dont you think the investors would have started picking the files apart after they went into first payment default? This guy was a greedy loser and will get what he deserves. I also put alot of blame on the investors. They should have done their diligence before purchasing the loans. Permalink

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