NEW HAVEN-A lawyer who ran unsuccessfully as the Democratic candidate for mayor in Milford in 2009 pleaded guilty to participating in a multi-million dollar mortgage fraud.
Genevieve Salvatore, who is represented by Andrew Bowman, admitted to Chief U.S. District Judge Janet C. Hall that she committed mail fraud by sending falsified HUD-1 forms, which itemizes services, fees and payments made during closings.
A preliminary calculation of Salvatore’s recommended federal sentencing guidelines puts her in the 41-to-51 month range of incarceration. However, it is expected that Bowman will request a lesser term when Salvatore is sentenced on Feb. 18.
The indictment also seeks forfeiture of $15,842 from Salvatore. Additionally, her plea to a felony conviction puts her license to practice law in jeopardy.
The case involves more than $2 million in what Assistant U.S. Attorney David Huang charges is fraudulently obtained real estate mortgages through the use of false loan applications, loan documents and HUD-1 statements.
Salvatore is one of five defendants in this case which includes another lawyer, Lawrence Dressler of New Haven. They are accused of participating in scheme in which more than 50 mortgages were obtained over a two year period on multi-family homes in New Haven. Huang claims the mortgage paperwork listed prices for the homes that ranged from $30,000 to $145,000 over the actual sales price.
Salvatore, a former chairman of Milford’s Economic Development commission, was defeated in a four-way run for Milford’s mayor in 2009. She garnered 3,824 votes to Mayor James Richitelli Jr.’s 8,525.