Industry News

Police officer convicted in real estate fraud scheme

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

A federal trial jury in Massachusetts on Friday convicted a Springfield, Mass., police officer and another Springfield man of conspiracy, mail fraud, wire fraud and money laundering in connection with a real estate fraud scheme. Michael J. Hutchison, 35, and Chester J. Ardolino, 37, each face up to five years in prison a fine of $250,000 for the conspiracy, mail fraud and wire fraud charges, and a fine of $500,000 for the money-laundering charges, according to a U.S. Attorney's office statement. During the trial, the government presented evidence that Hutchison and Ardolino engaged in fraud and money laundering when they purchased property located at 11-15 Belmont Place in Springfield on June 17, 1999. According to evidence presented at trial, in April 1999, Hutchison and Ardolino's brother, Anthony Ardolino, who was Chief of Staff to Mayor Michael Albano at the time, met with Elliott Beals in Anthony Ardolino's office at City Hall. Beals and a colleague, who were the sellers of ...