Ronald Hutchison Jr., 52, of Hopewell Junction, N.Y., defrauded mortgage lenders of millions of dollars when he inflated contract prices of multi-family homes in New Haven, Conn., wtnh.com reported.
Hutchinson and a group of conspirators purchased more than 50 homes without disclosing the inflated contract price. He was sentenced to 28 months in prison and must pay $2.6 million in restitution, wtnh.com said.
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