News and Press Releases

Appraiser Sentenced To Prison For Million Dollar Mortgage Fraud Schemes

FOR IMMEDIATE RELEASE
October 3 , 2011

PITTSBURGH, Pa. - A resident of Pittsburgh has been sentenced in federal court to 46 months in prison and three years of supervised release on his conviction of wire fraud, United States Attorney David J. Hickton announced today.

Senior United States District Judge Donetta Ambrose imposed the sentence on Richard Lawrence Veazey, 53.

According to information presented to the court, Veazey was an appraiser who provided fraudulent appraisals in connection with two separate mortgage fraud schemes.  The parties agreed that Veazey's actions resulted in excess of $1,000,000 in losses to lending institutions.

Assistant United States Attorney Brendan T. Conway prosecuted this case on behalf of the government.

U.S. Attorney Hickton commended the Mortgage Fraud task Force for the investigation leading to the successful prosecution of Veazey.  The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry.  Federal law enforcement agencies participating in the Mortgage Task Force include the Federal Bureau of Investigation; the Internal Revenue Service, Criminal Investigations; the United States Department of Housing and Urban Development, Office of Inspector General; the United States Postal Inspection Service; and the United States Secret Service. Other Mortgage Fraud Task Force members include the Allegheny County Sheriff's Office; the Pennsylvania Attorney General's Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee's Office.

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