Criminal Justice News

Saturday, June 30, 2012

Man Pleads Guilty to a $2 Million Mortgage Fraud

TALLAHASSEE, FL—Robert Martin Tolentino, 50, of Grand Rapids, Michigan, pleaded guilty in federal court in Tallahassee today to defrauding SunTrust Mortgage, Inc. on a $2 million mortgage. The guilty plea was announced Pamela C. Marsh, United States Attorney for the Northern District of Florida.

In October 2006, Tolentino applied for refinancing of his residential property located on St. George Island. In his application, he falsely represented that his monthly salary was $48,000 to $60,000 per month. According to Tolentino’s W-2 forms which were submitted to the Internal Revenue Service, his annual salary was approximately $183,647 and $174,250, for the 2005 and 2006 tax years, respectively. Tolentino also misrepresented that the subject property was his primary residence, when in fact, he had listed the property with a vacation rental business and had received more than $20,000 in rental income between July and December 2006. The rental income was not disclosed on the application and Sun Trust Mortgage approved the loan for $2 million.

Tolenino’s sentencing is scheduled for September 26, 2012, before United States District Judge Judge Robert L. Hinkle. Tolentino is facing a maximum sentence of 30 years in prison, a $1 million fine, five years of supervised release, and a $100 special monetary assessment as a result of his conviction for committing wire fraud affecting a financial institution.

U.S. Attorney Marsh had special praise for the work of the Federal Bureau of Investigation, whose investigation led to the prosecution in this case. The case is being prosecuted by Assistant United States Attorney Winifred Acosta NeSmith.

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