Crime & Safety
Former Canton Man Pleads Guilty To $1.5 Million Mortgage Fraud
Lee was extradited from Ireland to the U.S. last year to face charges. This was Ireland's first extradition to the U.S. since 2012.
BOSTON, MA — A former Canton man with dual Irish-U.S. citizenship pleaded guilty to running a $1.5 million mortgage fraud scheme.
Patrick Lee, 45, formerly of Canton and Easton, pleaded guilty to wire fraud and making an illegal monetary transaction. Between July 2005 and May 2007, prosecutors said Lee's scheme involved him or a relative buying five multi-family buildings in Dorchester and South Boston.
Prosecutors said Lee would finance those purchases with fraudulently obtained loans and then convert the buildings into condominiums. Lee would then resell the individual units to people he recruited as straw purchasers. Those purchases were also financed with fraudulently obtained mortgage loans.
Find out what's happening in Cantonfor free with the latest updates from Patch.
Lee was extradited from Ireland to the U.S. last year, so he could face charges. This was Ireland’s first extradition to the U.S. since 2012.
Lee's sentencing is scheduled for Feb. 28.
Find out what's happening in Cantonfor free with the latest updates from Patch.
For more on this story, check out the Patriot Ledger.
Image via Shutterstock
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.