Printer Friendly

CHELSEA REAL ESTATE AGENT PLEADS GUILTY TO DEFRAUDING DIME SAVINGS BANK

CHELSEA REAL ESTATE AGENT PLEADS GUILTY TO DEFRAUDING DIME SAVINGS BANK
 BOSTON, Oct 16 /PRNewswire/ -- U.S. Attorney A. John Pappalardo announced that a Chelsea real estate agent pleaded guilty yesterday to defrauding the Dime Savings Bank of New York and its Massachusetts subsidiary, Dime Real Estate Services of Massachusetts.
 U.S. Attorney A. John Pappalardo announced that Dana Dellheim, a Chelsea real estate broker and the owner of Century 21-Chelsea Square Realty, pleaded guilty today to a four-count Information charging bank fraud and false statements to a federally insured bank. At the change of plea hearing, a federal prosecutor stated to U.S. District Judge Edward F. Harrington, who accepted Dellheim's plea, that Dellheim and others defrauded Dime by deceiving the bank into believing that buyers of condominium units at a project known as Gaslight Village, located at 208-214 Washington St., Chelsea, Mass., had made large down payments on the units, when in fact they had made no down payments. By misrepresenting that the buyers had paid 20 percent or more of the purchase price of the units as down payments, Dellheim and others induced Dime to make loans to unqualified borrowers.
 At sentencing Dellheim faces five years imprisonment and a $250,000 fine on each of the bank fraud counts and two years imprisonment and a $250,000 fine on each of the two false statement counts.
 In a related case, the developers of the Gaslight Village project, Stephen H. Furber and Leo Hamel, together with Clark Waterfall, a former loan representative with Dime, and Robert M. Zimmerman, a Massachusetts attorney and former member of the firm of Warner & Stackpole, were indicted in Sept. 1992 with defrauding Dime in connection with the Gaslight Village project. All four defendants are awaiting trial.
 The case was investigated by Special Agents of the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Carolyn Stafford Stein of Pappalardo's Economic Crimes Division.
 U.S. Attorney Pappalardo stated that the investigation of fraud on the shareholders of Dime is continuing.
 -0- 10/16/92
 /CONTACT: Press Officer, U.S. Attorney's Office, 617-223-9445/ CO: ST: Massachusetts IN: SU:


CH -- NE009 -- 1153 10/16/92 17:13 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 16, 1992
Words:366
Previous Article:MICHAEL JORDAN AND NIKE GIVE $200,000 FOR STUDENT PROGRAMS IN CHICAGO PUBLIC SCHOOLS
Next Article:UNIQUEST ANNOUNCES FIRST QUARTER OPERATING RESULTS
Topics:


Related Articles
ZOLTON PHILLIPS SENTENCED TO SERVE TWO YEARS FOR DEFRAUDING FIRST AMERICAN BANK FOR SAVINGS
FORMER EXECUTIVE SECRETARY OF THE TOWN OF ARLINGTON PLEADS GUILTY TO CHARGES OF BANK AND MAIL FRAUD
FIVE DEFENDANTS CONVICTED IN SCHEME TO DEFRAUD THE BANK FOR SAVINGS, MALDEN, MA
TWO PLEAD GUILTY TO SCHEME TO DEFRAUD COMFED SAVINGS BANK AT CHANCERY COURT IN LYNN
DEVELOPER PLEADS GUILTY TO DEFRAUDING DIME SAVINGS BANK
Dime Savings forms RE broker council.
UNITED STATES BRINGS CRIMINAL CHARGES AGAINST TWO ATTORNEYS FORMERLY WITH BOSTON LAW FIRM OF WARNER & STACKPOLE
SIX DEFENDANTS SENTENCED FOR DEFRAUDING DIME SAVINGS BANK OF NEW YORK IN CONNECTION WITH CONDOMINIUMS IN BROCKTON
CAMBRIDGE CITY COUNCILOR CONVICTED ON CONSPIRACY CHARGES, U.S. ATTORNEY'S OFFICE ANNOUNCES
FORMER CHELSEA BROKER SENTENCED FOR DEFRAUDING DIME SAVINGS BANK, U.S. ATTORNEY'S OFFICE ANNOUNCES

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters