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BOSTON, MA - A Milton man has been convicted in federal court of defrauding mortgage lenders as part of a mortgage fraud scheme.

United States Attorney Carmen M. Ortiz and Steven D. Ricciardi, Special Agent in Charge of the United States Secret Service, Boston Field Office, announced today that AUGUSTUS C. OKOYE, 47, of Milton, MA pleaded guilty before U.S. District Judge Richard G. Stearns to three counts of wire fraud and one count of identity fraud.

During the plea hearing, the prosecutor told the Court that had the case proceeded to trial the Government’s evidence would have proven that OKOYE used his brother’s name, social security number, and date of birth to obtain mortgage loans for the purchase of three properties in and around the Boston area. In addition, OKOYE made false statements about the borrower's monthly income, employment, and/or intent to occupy the properties to the mortgage lenders in order to obtain mortgage loans for these real estate purchases.

Judge Stearns scheduled sentencing for July 21, 2010. OKOYE faces up to 20 years imprisonment to be followed by three years of supervised release.

The case was investigated by the United States Secret Service. It is being prosecuted by Assistant U.S. Attorney Ryan M. DiSantis of Ortiz’s Economic Crimes Unit.


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