NEWYORK, March 19 (Reuters) - A former executive at a New York mortgage lender was sentenced to more than eight years in prison on Thursday after pleading guilty to defrauding Fannie Mae (FNM.N) in a $44 million home refinancing scheme.
Leib Pinter, 64, was also ordered to pay more than $43 million in restitution. Prosecutors say that Pinter's scheme left Fannie Mae holding about that amount in unpaid principal of refinanced mortgage loans through his scheme.
The sentence was handed down by U.S. District Judge Sandra Townes in Brooklyn, the U.S. Attorney's Office for the Eastern District of New York said in a statement.
A lawyer for Pinter was not immediately available for comment.
Pinter, a former executive of Brooklyn mortgage lender Olympia Mortgage Corp, pleaded guilty in September 2008 to conspiracy to commit wire fraud.
Meanwhile, his Artscroll book, 'Don't Give Up' seems to have been pulled from the Artscroll website. I couldn't find it there anymore. I guess they were waiting for the sentencing?
Anyways, I bet Pinter is wishing he was an Eved Ivri right now.
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