Webster Woman Sentenced On Fraud Charge
For Immediate Release
U.S. Attorney's Office, Western District of New York
CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX: (716) 551-3051
ROCHESTER, N.Y.— U.S. Attorney William J. Hochul, Jr., announced today that Janet Faticone, 51, of Webster, NY, who was convicted of fraud, was sentenced to 12 months in prison and three years supervised release by U.S. District Judge the Hon. David G. Larimer, United States District Judge after pleading guilty to one count of wire fraud.
Assistant U.S. Attorneys Tiffany H. Lee and Bradley Tyler, who handled the case, stated that between December 2012 and January 2014, Faticone managed a business, NYS Title and Abstract. The defendant prepared title insurance commitments, HUD forms, invoices and maintained client accounts. Faticone was aware that a title insurance underwriter is needed to prepare commitments. Neither the defendant nor NYS Title and Abstract were authorized title insurance underwriters.
Faticone caused false title insurance commitments, and in one instance, a false title insurance policy to be sent via wires. The defendant invoiced for fees totaling approximately $13,000 for the provision of mortgage loan title insurance that neither she nor NYS Title and Abstract had the authority to issue.
The sentencing is the culmination of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent in Charge Adam S. Cohen and Investigator Bill Fedrau of the New York State Department of Financial Services’ Financial Frauds and Consumer Protection Division, under the direction of Assistant Chief Sean Ralph, Director Frank Orlando, Executive Deputy Superintendent Joy Feigenbaum and Superintendent Benjamin M. Lawsky.
Updated September 1, 2016