A real estate broker has been sentenced to prison for conspiracy to defraud mortgage lenders of $4 million relating to more than two dozen properties in Dorchester.

Joan Ruggiero was sentenced to nine months in prison and nine months of home detention, and was ordered to pay a fine of $100,000 and restitution of $4.1 million to the lenders. In October 2013, Ruggiero pleaded guilty to one count of conspiracy.

According to court documents and statements, Ruggiero, who owned a real estate business in Dorchester, and her co-conspirator, targeted buildings for sale in Dorchester with the intention of purchasing to convert into individual condominium units. The two then recruited individuals to pose as condo buyers and allegedly promised them that they were making a good investment. However, Ruggiero, who held herself out as a broker, and her co-conspirator, actually owned the units. Ruggiero submitted mortgage applications to various lenders, which contained false information about the “buyers’” income, assets and intentions to live in the properties. Other fictitious documents were provided during the scheme, such as phony leases, bank documents and verifications of employment. Relying on the false information provided, the lenders approved the mortgages and paid the required amount at the property closings. Ruggiero and her co-conspirator purportedly seized those funds and deposited them into their own accounts.