David B. Fein, United States Attorney
for the District of Connecticut, announced that John Voloshin, 56, of
Woodbridge, was sentenced today by United States District Judge Robert N.
Chatigny in Hartford to 33 months of imprisonment, followed by three years of
supervised release, for operating multiple fraud schemes that have caused
losses of more than $1.5 million to individuals and lenders. Voloshin has been
detained since his arrest on November 18, 2011. On January 19, 2012, he waived
his right to indictment and pleaded guilty to one count of mail fraud.
According to court documents and
statements made in court, in approximately 2006, Voloshin asked an individual
to loan him $500,000. Voloshin indicated that he was in contract to purchase a
house on Martha’s Vineyard, but that he needed the money or he would lose a
deposit. The victim agreed to loan Voloshin the money. To date, Voloshin has
not repaid the loan.
In 2008, Voloshin received a home equity
loan in the amount of $250,000 from Webster Bank. In support of his home equity
loan application, Voloshin submitted a false federal tax return. As of August
2011, the outstanding balance on the bank loan was more than $252,000.
In 2010, Voloshin defrauded an
individual for whom he had agreed to bid on the bank auction of a hotel on
Nantucket. Voloshin instructed the victim to send him a check in the amount of
$250,000 made payable to the name of the auction company. Rather than
delivering money to the auction company, Voloshin deposited the check into a
bank account for which he had sole signatory authority and used the proceeds
from that check to enrich himself.
In June 2010, Voloshin applied for and
received a $520,000 refinance loan from a mortgage lender for a property he has
owned on Martha’s Vineyard since 1999. In association with the loan
application, Voloshin submitted a financial account statement showing an
account balance in excess of $3 million at UBS when, in reality, he had no
account at UBS. Voloshin used approximately $250,000 of the refinance loan
proceeds to pay the victim of the hotel auction fraud scheme.
In total, Voloshin’s schemes resulted in
losses of approximately $1.52 million.
Today, Judge Chatigny ordered Voloshin
to pay restitution in the amount of $1,311,035.67.
This matter was investigated by the
Federal Bureau of Investigation. The case was prosecuted by Assistant United
States Attorneys David T. Huang and Michael S. McGarry.
This case was brought in coordination
with the President’s Financial Fraud Enforcement Task Force, which was
established to wage an aggressive and coordinated effort to investigate and
prosecute financial crimes. The task force includes representatives from a
broad range of federal agencies, regulatory authorities, inspectors general,
and state and local law enforcement who, working together, bring to bear a
powerful array of criminal and civil enforcement resources. The task force is
working to improve efforts across the federal executive branch, and with state
and local partners, to investigate and prosecute significant financial crimes,
ensure just and effective punishment for those who perpetrate financial crimes,
combat discrimination in the lending and financial markets, and recover
proceeds for victims of financial crimes.
To report financial fraud crimes, and to
learn more about the President’s Financial Fraud Enforcement Task Force, please
visit www.stopfraud.gov.
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