Local lawyer charged with mortgage fraud
A Boston attorney has been charged with multiple counts of wire fraud and money laundering in connection with an alleged mortgage fraud scheme in Braintree and Malden, the US Attorney's office said today.
Stuart H. Sojcher of Leominster, who practices law in Boston, was arraigned Friday following his indictment by a federal grand jury. The indictment alleges that Sojcher, 57, submitted fake loan documents to two mortgage lenders and pocketed most of the $1.3 million in sales rather than paying off prior mortgages.
In a separate case, Sojcher allegedly served as a closing attorney and stole the proceeds from a real-estate sale rather than turning over the money to the seller.
He faces up to 20 years in prison on wire fraud charges and 10 years on the money laundering charges. He could also be fined up to $250,000 on each count.