Flipping Frenzy.com is your source for news, information, and commentary on Real Estate and Mortgage Fraud. 
If you believe you have been a victim of real estate or mortgage fraud, start here! Select your state from the pulldown menu below:
Man Charged with Wire Fraud in Connection with Sale of Paper Mill
Richard S. Hartunian, United States Attorney for the Northern District of New York, and John F. Pikus, Special Agent in Charge of the Albany Division of the Federal Bureau of Investigation, announced that a federal grand jury in Albany returned a seven-count indictment yesterday charging John M. Hogan, Jr., with committing wire fraud in connection with the sale of a paper mill in Middle Falls, New York.
The indictment charges that, in or about October 2004 through December 2009, Hogan, now age 75, of Saratoga, who was then an attorney representing both the party selling the paper mill, St. Regis Investment Group, LLP, and the buyer, United Fibers, LLC, concealed from the buyer, among other things, the existence of hazardous environmental conditions at the paper mill, the Environmental Protection Agency’s (“EPA”) ongoing efforts to cleanup the paper mill, the seller’s statement to EPA that he was unable to pay for the cost of cleanup, a time-critical removal action pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, and the potential financial liability to United Fibers as the buyer of the paper mill.
The wire fraud charges carry a maximum statutory penalty of up to 20 years’ imprisonment, a $250,000 fine, or both, and a period of up to three years’ supervised release to follow any term of imprisonment. The arraignment in the case will be scheduled for the week of November 8, 2010, at which time the schedule for trial will be set.
The investigation in this matter was conducted by the Albany Division of the Federal Bureau of Investigation. The case is being prosecuted by the United States Attorney’s Office for the Northern District of New York.
An indictment is merely a formal charge that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent until, and unless, proven guilty.
A Ralph Roberts Site, Copyright 2005-2008 |