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Tuesday, April 09, 2013

Westport Mortgage Broker Gets One Year in Fraud Scheme

A 56-year-old Easton man employed as a mortgage broker in Westport was sentenced today in U.S. District Court in New Haven to one year and one day in prison after pleading guilty in 2008 to fraud charges in connection with his role in a Fairfield County mortgage fraud scheme, the U.S. Attorney’s Office said.

U.S. District Judge Janet C. Hall also ordered Fred Stevens, who has been free on $100,000 bond, to undergo three years of supervised release and three months in home confinement after his release from prison. She also ordered him to pay a $7,500 fine after he was earlier ordered to pay $2,070,000 in restitution, the U.S. Attorney’s Office said.

Sentencing of Stevens apparently was delayed as prosecutors built a case against Westport property developer William A. Trudeau, Jr.

Stevens testified extensively at Trudeau’s trial, the U.S. Attorney’s Office said, and on Oct. 9, 2012, a jury found Trudeau guilty of one count of conspiracy to commit bank fraud, mail fraud and wire fraud, and one count of wire fraud. (See WestportNow Oct. 9, 2012)

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