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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