Foxboro Man Pleads Guilty To Mortgage Fraud

BOSTON – Christopher Chasse, formerly of Foxboro, was convicted today in federal court of mortgage fraud in connection with the purchases of residential properties.

From June to September of 2006, Chasse fraudulently caused mortgage financing of more than $4 million for the purchase of residential properties in greater Boston. Chasse submitted false loan applications to lenders containing bogus information about his employment, income, assets, closing costs and related matters. The documentary evidence included phony income tax returns and other IRS forms, all to cause lenders to wire loan proceeds to attorneys closing the loans. Chasse also recruited other buyers for fraudulent mortgage loans.

Chasse, who pleaded guilty to 10 counts of wire fraud, will be sentenced by U.S. District Judge George A. O’Toole on Nov. 20, 2014. The charging statute provides a sentence of no greater than 30 years in prison, five years of supervised release and a fine of $250,000, or twice the gain or loss on each count. Actual sentences for federal crimes are typically less than the maximum penalties. The U.S. Attorney and the defendant will jointly recommend a sentence of 96 months in prison, to be followed by five years of supervised release. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.

United States Attorney Carmen M. Ortiz; Vincent Lisi, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division; Bruce M. Foucart, Special Agent in Charge of Homeland Security Investigations Boston Field Office; and William P. Offord, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston, made the announcement. The case is being prosecuted by Assistant U.S. Attorney Victor A. Wild of Ortiz’s Economic Crimes Unit and Assistant U.S. Attorney Carlos Lopez of Ortiz’s Major Crimes Unit.