Jacques Kelly, 48, of Pleasant Valley, was involved in a 2-year-long scheme of buying homes in New Haven, inflating the purchase price on mortgage applications, then allowing the homes to go into default and foreclosure, LoHud.com reported.
In all, Kelly and his accomplice former colleague Ronald Hutchison caused lenders to lose more that $7 million, LoHud.com said.
Kelly will be sentenced on July 14, according to LoHud.com.
Click here to read the full article.
Click here to follow Daily Voice Lewisboro and receive free news updates.