An attorney was sentenced to prison in connection with a multiyear, multiproperty mortgage fraud scheme in Dorchester and Roxbury.

Michael R. Anderson, of Framingham, was sentenced to two years in prison and two years of supervised release, and ordered to pay $11,048,212 in restitution and forfeit $7,413,712. In January 2011, Anderson pleaded guilty to 16 counts of wire fraud, nine counts of bank fraud and two counts of engaging in unlawful monetary transactions.

From September 2006 through April 2008, Anderson allegedly assisted Michael David Scott, a developer, with creating a fraud scheme in connection with the purported sale of more than 27 condominium units in Boston. Scott, who was charged separately, pleaded guilty in May 2015.

Scott and his associates bought multifamily residences, promising to convert them into condominiums, and then resold the individual units to various straw buyers. The developer, Anderson and others, arranged for the straw buyers to obtain mortgage financing by reporting false information, including the buyers’ intent to reside in the properties, assets, down payments and funds paid at closing. Anderson and others arranged to prepare loan closing documents, and then closed the mortgage loans associated with these purchases. Anderson, as the closing attorney, also was responsible for disbursing the fraudulently obtained mortgage loan proceeds.

Attorney Imprisoned For Role In Mortgage Fraud Scam

by Banker & Tradesman time to read: 1 min
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