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MAINE RESIDENT INDICTED FOR MORTGAGE FRAUD

THURSDAY, JUNE 30, 2011

BOSTON, Mass...A Berwick, Maine man was charged today in federal court with one count of fraud in connection with the purchase of a property in Salisbury, Mass.

ROBERT A. RAYMOND, 43, was charged in an Indictment with wire fraud. It is alleged in the Indictment that RAYMOND engaged in a scheme to defraud a mortgage lender in connection with the purchase and financing of a residential condominium unit at 285 North End Boulevard, Salisbury, Mass. RAYMOND allegedly joined with the unit’s owner, James Luke Cassell, to falsely inflate the sale price of the condo unit and to arrange for a sham down payment. RAYMOND also misrepresented the income and assets of his wife, the purported purchaser of the unit. It is further alleged that the pair also falsely claimed that RAYMOND’s wife intended to live in the unit and failed to report that Cassell paid RAYMOND a share of the mortgage proceeds following the closing. Cassell previously pleaded guilty and is scheduled to be sentenced in August, 2011.

If convicted on these charges, RAYMOND faces up to 30 years imprisonment, to be followed by 5 years of supervised release and a $1,000,000 fine.

United States Attorney Carmen M. Ortiz and Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Office made the announcement. The case is being prosecuted by Assistant U.S. Attorney Lori J. Holik of Ortiz’s Economic Crimes Unit.

The details contained in the indictment are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

 

 

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