Snyder Gets 12+ Years In $30M Pennsylvania Wraparound Mortgage Ponzi Scheme As Victims Watch Him Handcuffed & Frog-Marched Away To Prison

In Harrisburg, Pennsylvania, Lancaster Online reports:

• Ignoring [Wesley] Snyder's pleas for leniency, U.S. District Chief Judge Yvette Kane sentenced Snyder to 12 years and two months in prison, a sentence within the federal guidelines. She also ordered him to make full restitution. The judge also summarily turned down Snyder's request to report for sentencing at a later date. He was led from the courtroom in handcuffs, as about 50 of his victims watched.

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• Today's sentencing came nine months after prosecutors discovered that Snyder, from Oley, had taken nearly $30 million from more than 800 borrowers, including 300 from Lancaster County, and 31 investors, including three local ones. Snyder fooled borrowers into thinking they had shorter, smaller mortgages while sticking them with longer, bigger ones and keeping some of their payments. He also made investors think they were funding the mortgages and were destined to get immense returns.

For more, see Mortgage scammer jailed (Ignoring broker's pleas for leniency and heeding local victims' calls for a stiff sentence, federal judge jails Berks man for 12 years, 2 months. He cheated 800 homebuyers out of $30 million).

Go here and go here for other posts and links to earlier media reports on the Pennsylvania wrap around mortgage Ponzi scheme involving companies operated by WesleySnyder.