Guyanese David Ramnauth, the former head of a Queens, New York mortgage firm was on Tuesday sentenced to 30 months in prison for his role in a massive mortgage fraud scheme in which over US$23M in fake loans were processed in relation to 44 properties.
A release from the office of Preet Bharara, the US attorney for the Southern District of New York made the disclosure. Ramnauth had pleaded guilty to his role in the mortgage fraud scheme in August 2010.
Said Bharara: “As the president of a mortgage brokerage that