Long Island mortgage executives charged with warehouse line fraud

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FOR IMMEDIATE RELEASE Tuesday, August 22, 2017 Top Executives At Long Island Mortgage Lender Arrested For Engaging In .9 million fraud defendants misused money Ostensibly Obtained To Fund Mortgage Loans A complaint was unsealed today in federal court in Central Islip, New York, charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss,

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New York federal prosecutors on Tuesday accused three executives of Long island mortgage lender vanguard funding LLC of lying to banks in order to obtain nearly $9 million in short-term loans.

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Matthew T. Voss, 43, Northport, New York, formerly the Chief Operating Officer of Long Island mortgage lender Vanguard Funding, LLC (Vanguard), was sentenced today to conspiring to commit wire and bank fraud in connection with the diversion of more than $8.9 million of warehouse loans that Vanguard had fraudulently obtained purportedly to fund home mortgages and mortgage refinancing.

Two top executives from a Long Island mortgage lender pleaded guilty to conspiring to commit wire and bank fraud in connection with their diversion of more than $8.9 million of warehouse loans. Read on for more details.

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A complaint was unsealed today in federal court in Central Islip, New York, charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), with conspiracy to commit wire and bank fraud in connection with their obtaining more than $8.9 million of warehouse loans for Vanguard to fund mortgages.

Earlier today, at the federal courthouse in Central Islip, Edward Sypher, Jr., formerly the Chief Financial Officer of Long Island mortgage lender Vanguard Funding, LLC (Vanguard), was sentenced.

Long island mortgage executives charged with warehouse line fraud Three executives from Vanguard Funding are facing fraud charges related to their alleged misuse of nearly $9 million in warehouse lending funds. mortgage fraud Bonnie Sinnock September 18, 2017.