Sarasota Attorney Cops Plea In Mortgage Fraud Scheme Involving $82M+ In Fraudulent Loan Activity

From the U.S. Attorney's Office (Tampa, Florida):

• United States Attorney A. Brian Albritton [last week] announced that defendant JOHN A. YANCHEK, age 49, a resident of Sarasota, Florida, and a practicing attorney licensed by the State of Florida, pleaded guilty [...] to three counts of a 47-count Indictment charging four individuals with conspiracy, making false statements in connection with bank loans, scheming to defraud several FDIC - insured banks, and money laundering. [...] The total face amount of the commercial loans fraudulently obtained from seven banks was $82.7 million.

For more, see Sarasota Attorney Pleads Guilty In $82.8 Million Mortgage Loan Fraud.