Two Sentenced in Mortgage Fraud Scheme
PENSACOLA, FLORIDA – U.S. Attorney Pamela C. Marsh announced the sentencing today of Jason Andrew Vitulano, 38, of West Palm Beach, Florida, and Marc A. Gross, 54, of Boca Raton, Florida, by U.S. District Court Chief Judge M. Casey Rodgers following acceptance of their guilty pleas in August of last year. Both Vitulano and Gross pleaded guilty to several counts that included: conspiracy to commit mail fraud and wire fraud, two counts of mail fraud, and conspiracy to commit money laundering. Gross also pleaded guilty to making false statements to a federal agent and perjury. Vitulano was sentenced to 77 months in prison, ordered to pay restitution in the amount of $4,047,140.81, and a monetary judgment in the amount of $1,404,447 was entered. As part of Gross’s sentence, the Court forfeited Gross’s personal residence valued at approximately $340,000, his retirement accounts valued at approximately $253,000, and also ordered him to pay $3,507,187 in restitution as part of the five years of probation Gross was ordered to complete.
Vitulano and Gross both admitted that between June 2007 and February 2008, they were involved in the purchase of six townhomes in Temple Terrace, Florida, and two homes in Santa Rosa Beach, Florida, all purchased in the names of straw buyers. In order to finance each of these purchases, Vitulano and Gross caused loan applications containing false information to be submitted to various mortgage lenders and financial institutions. The false information submitted included false employers and an overstatement of income and assets. The fraudulently obtained loans were foreclosed upon causing harm to the lenders.
This case was investigated by the Internal Revenue Service – Criminal Investigation, the Florida Department of Law Enforcement, and the Federal Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney Tiffany H. Eggers.