Industry News

Massachusetts couple sentenced in real estate loan fraud

Wife must pay $18,000 restitution

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A Massachusetts couple was sentenced in federal court for identity theft, bank fraud, credit card fraud and various other federal offenses in connection with a mortgage fraud case, the U.S. Attorney reported Friday. Itza Ruiz, 39, of Malden, Mass., and husband Heriberto Ruiz, 48, also of Malden, were sentenced to time served, officials said. Itza Ruiz was also sentenced to two years of supervised release and ordered to pay restitution of $18,083. Heriberto Ruiz was also sentenced to one year of supervised release, according to officials. On April 4, 2005, the defendants pleaded guilty to a 23-count indictment, charging them with identity theft, bank fraud, credit card fraud, and making false statements in documents required by federal immigration law, officials said. The 23-count indictment also charged Itza Ruiz with student financial aid fraud, making false statements in loan applications, making false statements and entries in an INS employment eligibility verification form, and m...