Two New York real estate brokers who filed false mortgage applications pleaded guilty Tuesday to conspiring to defraud two Buffalo-area banks and six other banks of almost $13 million.
According to federal prosecutors, the defendants made false statements to eight banks on about 90 loan applications to buy cooperative and condominium apartments in Manhattan.
The defendants -- Vincent Tomasino, 61, of Manhasset, N.Y., and Tania Vetrov, 42, of Pike City, Pa. -- reportedly misrepresented the buyer, the buyer's salary and assets, and the amount of the downpayment.
The eight banks named were Goldome and Empire of America of Buffalo, Citibank, Central Federal Savings, the Dime Savings Bank of New York, Emigrant Savings Bank, the former Hamburg Savings Bank of Brooklyn and Long Island Savings Bank.
The banks granted the loans at inflated purchase prices but within months Tomasino and Vetrov stopped making mortgage payments.