Man charged in mortgage fraud set for sentencing - New York News

Man charged in mortgage fraud set for sentencing

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BISMARCK, N.D. (AP) - Sentencing is set for 1 of 4 people charged in the case of a defunct Arizona mortgage lender accused of swindling Bismarck-based BNC National Bank out of about $27 million.

Authorities say 69-year-old David Kaufman lied to investigators when he was questioned about his role as an independent auditor. He pleaded guilty to obstruction of justice.

Three executives with American Mortgage Specialists Inc. also are charged in the case. AMS allegedly defrauded the bank by providing it with false financial statements and other information about the status of loans the bank had financed.

Sentencing is scheduled for Monday in Bismarck. Kaufman will appear via video from Arizona. He faces a maximum sentence of 10 years in prison.

Related story: Arizona men set to appear in mortgage fraud case

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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