CRANBERRY TWP — Four men were indicted by a federal grand jury Tuesday in connection with alleged schemes to commit fraud at two township housing developments.
According to James P. Kennedy Jr., U.S. attorney for the Western District of New York, a 62-count indictment was returned by a federal grand jury against Frank Giacobbe, 43, of East Amherst, N.Y., Patrick Ogiony, 34, of Buffalo, N.Y., Kevin Morgan, 42, of Pittsford, N.Y., and Todd Morgan, 29, of Rochester, N.Y.
The men all face charges of conspiracy to commit wire fraud and bank fraud, and substantive wire fraud and bank fraud.
The charges carry a maximum penalty of 30 years in prison and a $1,000,000 fine, according to prosecutors.
The indictment comes after an investigation into the practices of the men on behalf of Morgan Communities, which owns the Eden Square and Rochester Village housing developments in Cranberry Township.
They are accused of using a variety of tactics, including staging rooms to appear occupied and altering reported income and other data to secure loans from the Federal Home Loan Mortgage Corporation and other lenders.
Read more about the charges in Cranberry Eagle.