Connecticut Man Pleads Guilty to Mortgage Fraud Scheme

William Athan of Shelton, Conn., waived his right to indictment and pleaded guilty before U.S. District Judge Vanessa L. Bryant to his role in a $3.6 million mortgage fraud scheme. According to public statements and documents filed with the court, Athan, Jose Guzman, Brian Guimond and others participated in a real estate and mortgage fraud scheme that arranged for individuals to purchase properties and fund mortgages of houses located in Connecticut. Athan, Guzman and another individual created a New London-based real estate investment company, which was engaged in both the business of buying and selling real estate properties and the mortgage origination business. Through this scheme, the conspirators arranged for and assisted in arranging for various straw borrowers to obtain funding from various lenders.