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Tuesday, October 09, 2012

Westporter Faces 40 Years for Mortgage Fraud

A Westport property developer convicted in a New Haven federal court today of mortgage fraud topping $3.5 million could face up to 40 years imprisonment when he is sentenced in January, the U.S. Attorney’s office said.

William Trudeau Jr. , 49, was found guilty before Judge Janet C. Hall of conspiracy and wire fraud stemming from his participation in a Fairfield County mortgage scheme, according to U.S. Attorney David Fein’s office. The trial had been underway since Sept. 27. Trudeau is scheduled for sentencing for Jan. 2 and faces a maximum term of 40 years.

According to Fein’s office, Trudeau was an unnamed principal in both Aspetuck Building & Development and Huntington South Associates, LLC, the latter of which was a shell company that Trudeau used to pay for personal expenses and to secure loans fraudulently.

Prosecutors said that from approximately February 2004 to April 2010, Trudeau conspired with Joseph Kriz, Heather Bliss, Fred Stevens, Thomas Preston and others to defraud federally insured financial institutions and mortgage lenders.

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