Stamford Man Pleads Guilty to Fraud in $4 Million Mortgage Scheme

A 43-year-old Stamford man waived his right to indictment and pleaded guilty in a New Haven court Monday to one count of wire fraud involving mortgage lenders, according to a statement released by U.S. States Attorney David B. Fein.

According to court documents and statements made in court, between December 2006 and March 2007, Christian Tudorof submitted mortgage applications to various mortgage lenders in association with the purchase of residential properties in Florida, Arizona and Connecticut. 

In many of the applications, Tudorof provided false information and failed to disclose information to the lenders. For example, he deliberately failed to disclose the existence of a mortgage he received to purchase a home in Florida when he applied for mortgages on additional properties purchased in his name. 

Tudorof also falsely represented on applications that he intended to live in some of the homes that he intended to purchase when, in fact, he had no intention of living in those homes.

As a result of the scheme, Tudorof received more than $4 million in mortgages from lenders and purchased at least six properties. After he failed to pay the mortgages, each of the homes he purchased was sold in foreclosure. The mortgage lenders involved in the scheme suffered losses of more than $2 million as a result.

Tudorof is scheduled to be sentenced on October 4 and faces a maximum term of imprisonment of 20 years and a fine of up to approximately $4 million.

The case was investigated by the Federal Bureau of Investigation.