Central Coast Man Sentenced to Nearly Two Years in Federal Prison in Mortgage Fraud Scheme

Central Coast Man Sentenced to Nearly Two Years in Federal Prison in Mortgage Fraud Scheme

LOS ANGELES, CA – May 24, 2011 – (RealEstateRama) — A Buellton man was sentenced today to 21 months in federal prison for defrauding banks by nearly simultaneously seeking home equity lines of credit from four different federally insured financial institutions. Larry P. Corbi Jr., 36, who resided in Marina del Rey during the course of the scheme and has since relocated to the Central Coast, was sentenced by United States District Judge Dale S. Fischer. In addition to the prison term, Judge Fischer ordered Corbi to pay $356,644 in restitution.

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