The Financial Litigation Program (FLP) of the United States Attorney’s Office for the Northern District of Ohio collected $333,549.82 in restitution from a defendant who was found guilty of participating in a $40 million mortgage fraud scheme.
Attorney General’s Office Received Restitution in a Mortgage Fraud Scheme
According to the documents filed with the court, Defendant John J. Dubay was granted permission to file a notice of judgement satisfaction on Monday, May 23, 2022. In 2014, a jury found Dubay guilty of conspiracy to commit bank fraud as well as bank fraud and bank fraud conspiracy.
Along Florida’s Gulf Coast, Dubay and a number of other people participated in a scheme to commit mortgage fraud involving dozens of different properties. As part of the scheme, Dubay and others participated in the scheme by acting as straw buyers and submitting mortgage loan applications that contained a variety of false statements, misrepresentations, and other omissions.
As a direct consequence of the scheme, Dubay and others obtained numerous home mortgage loans with a total face value of approximately $40 million, the majority of which went into default and foreclosure as a result of the situation.
Due to Dubay’s participation in the conspiracy, he was given a prison sentence in September 2015 and was ordered to make restitution in the amount of $333,549.82.
The announcement was made by Michelle M. Baeppler, who is serving as acting United States Attorney.
The FBI conducted an investigation into this matter. Suzana K. Koch, an assistant United States Attorney, was in charge of the litigation concerning the finances. Assistant United States Attorneys Robert J. Patton and Om Kakani were in charge of the criminal prosecution of this case.
The United States Attorney’s Office is in charge of enforcing and collecting civil and criminal debts that are owed to the United States, as well as criminal debts that are owed to victims of federal crimes. It is a requirement of the law that defendants in certain federal crimes pay restitution to victims who have suffered a physical injury or financial loss as a result of the crime.
Criminal fines and felony assessments are paid to the department’s Crime Victims Fund, which then distributes the funds collected to federal and state victim compensation and victim assistance programmes. Restitution is paid to the victim while criminal fines and assessments are paid to the fund.
Forfeited assets that are deposited into the Assets Forfeiture Fund of the Department of Justice are used for a variety of law enforcement purposes, including the restoration of funds to victims of criminal activity.
The Attorney General’s Office Is Responsible for Collecting Restitution from the Defendant in the Mortgage Fraud Scheme