Home Courts Rockland County lawyer sentenced to four months in mortgage fraud scam

Rockland County lawyer sentenced to four months in mortgage fraud scam

A Rockland County attorney was sentenced by the U.S. District Court for the Western District of New York to four months in prison for his role in a mortgage fraud scheme.

Laurence Savedoff of New City had been convicted of misprision of a felony – a misprision occurs when a person is aware that a felony took place and fails to notify the authorities while taking steps to aid in its concealment. In Savedoff’s case, he represented The Funding Source, a mortgage bank, as the settlement attorney between 2008 and 2009, and his office was used for the closings for eight real estate transactions in the Bronx that involved efforts by five other individuals to fraudulently obtain mortgages insured by the Federal Housing Administration on behalf of unqualified borrowers.

Prosecutors argued that Savedoff signed legal documents in all of the transactions knowing they were false. Also, he failed to notify authorities of the fraud while concealing the scam by either signing or having his paralegal sign documents that would be sent to banks, including M&T Bank. The total amount of the mortgages involved in this fraud was $4.8 million.

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Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

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