Mortgage Fraud Nets Federal Prison Sentence
By: Sam Clanton
Posted: Saturday, November 17, 2012
A man from Springfield has been sentenced to two years without parole in federal prison for mortgage fraud.
Thirty-year-old Richard Gillette pleaded guilty to laundering money related to a mortgage fraud scheme. He reportedly used proceeds from two fraudulent loans to purchase an Italian sports car and other items.
Gillette was also ordered to pay more than 1-point-2 million dollars in restitution.