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Man Pleads Guilty In Mortgage Fraud Scheme

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(photo: istock)

(photo: istock)

(Washington, DC)  —  A New Mexico man has pleaded guilty for his role in a Las Vegas mortgage fraud scheme.  Federal prosecutors say 62-year-old Hugo Patrick Coutelin took part in a plan to falsify mortgage loan applications by using “straw buyers.”  Authorities say the scheme netted $3.4-million.  Coutelin was the secretary of CPT Real Estate Investments.  He faces up to 30 years in prison when he’s sentenced in April.

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