A New Hampshire man has been sentenced to four years in prison for his role in a scheme to defraud homebuyers and mortgage lenders in the Boston area.

The Massachusetts attorney general’s office says 31-year-old Joshua Brown of Brentwood, N.H., was sentenced last week following his conviction last month on multiple counts of larceny.

He was also sentenced to 35 years of probation and ordered to pay $5 million in restitution.

The charges involved about $12.5 million in loans used to purchase 26 multifamily homes. Prosecutors say Brown, the former head of Boston Equity Investments, used inflated property appraisals and other fraudulent documents to obtain the loans.

All the homes were eventually foreclosed on or sold at a significant loss.

Five other defendants previously entered guilty pleas. (AP)

N.H. Man Gets 4-Year Sentence In Mass. Mortgage Scheme

by Banker & Tradesman time to read: 1 min
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