Here's more about 71-year-old Wesley A. Snyder, the mortgage broker from Berks County that has ripped off hundreds of homeowners in Lancaster County. He's recently agreed to plead guilt to one count of mail fraud.
According to a story in the Lancaster Newspapers,
"Snyder, whose scam cost victims between $15 million and $32 million, according to court papers filed Friday in Harrisburg federal court, also has promised:
- That he has disclosed all of his assets to prosecutors.
- That he will not transfer or sell any of his assets without the written consent of prosecutors.
- That he will consent to interviews by the prosecutors' Financial Litigation Unit regarding his financial status.
- That he will take a lie detector test, if prosecutors ask.
- That he will take full responsibility for his actions.
Snyder's attorney, Emmanuel H. Dimitriou of Reading, has defended his client as an honest man who never intended to cheat people.
"Mr. Snyder is 'the guy next door.' He is not a scam artist," said the attorney.
But the charging document filed by prosecutors shows years of deceit by the businessman.
Snyder's central tool was a complex deal he called a "wrap-around, equity slide down discount" mortgage."
The complete article is here: http://local.lancasteronline.com/4/212436
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