Cheswick man sentenced to 4 years for bank fraud
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A loan closing agent from Cheswick was sentenced Monday to four years in prison for bank fraud, money laundering and identity theft.
David Landman, 43, used his father-in-law's identity to get mortgage loans totaling nearly $1.9 million, U.S. District Judge Gustave Diamond found. Lenders made the loans based on false representations of the father-in-law's income, and relied on promises that some of the money would be used to pay off existing debt on the properties, which was not done. Judge Diamond found that banks lost $1.24 million on the loans.
Mr. Landman was indicted in 2010 and pleaded guilty in June.
First Published December 13, 2011 12:00 am