Loan Originator Gets 6 Years For Mortgage Fraud

Law360, New York (May 26, 2011, 2:14 PM EDT) -- A Massachusetts federal judge on Wednesday ordered a loan originator to serve almost six years in prison and forfeit $1.9 million for his role in a mortgage fraud ring that already landed numerous defendants, including a former attorney, behind bars.

Ralph Appolon, 30, is the 12th and final defendant prosecuted in connection with a large-scale mortgage fraud scheme that involved 21 properties in the greater Boston area and $10.6 million in loan proceeds, according to the FBI

“We hope to send a clear message to those...
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