Mortgage fraud, money laundering indictment handed up

A federal grand jury in Albany returned a 30 count felony mortgage fraud and money laundering indictment against Anthony Andersen, 53, of Florence, Mass.

He is charged with one count of conspiring with others known and unknown to commit federal crimes, 13 counts of making or causing false statements to be made to federally insured financial institutions, one count of executing a scheme to defraud a federally insured bank, one count of causing monetary transactions to be conducted with the proceeds of specified unlawful activities for the purpose of promoting said unlawful activities (commonly referred to as "promotion money laundering"), four counts of causing monetary transactions to be conducted with the proceeds of specified unlawful activities designed, in whole or in part, to conceal or disguise the proceeds of said unlawful activities (commonly referred to as "concealment money laundering"), and 10 counts of causing monetary transactions over $10,000 to be conducted in funds derived from said specified unlawful activities.

The allegations contained in the indictment contend that Andersen held himself out as a mortgage broker, who owned, operated and/or did business using a number of entities, including Troy Realty Equity Corp., First Street Troy Realty Corp., 1st Street Troy Realty Corp., AA Asset Management, Inc., and Easthampton Mortgage Co., Inc. In or about 2001 and 2002, Andersen recruited others who allowed him to use their names and identifying information to apply for and obtain loans from Union Planters Bank, National Association, purportedly for the purpose of refinancing real properties that were owned and/or controlled by Andersen within the State and Northern District of New York.

It was a part of the alleged scheme that, shortly before the closings on the loans, Andersen would cause title for these properties to be transferred to the straw borrowers. Yet, Andersen also represented to the straw borrowers that he would maintain control of the properties and that he would be responsible for the loans obtained from UPB based thereon. Andersen also agreed that he and/or entities controlled by him would re-acquire from the straw borrowers title for the properties shortly after the closings on the loans and that, unknown to UPB, he would pay the straw borrowers for allowing him to use their names and identifying information to obtain the loans.

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