Collier man convicted in mortgage fraud scheme
A federal jury in Pittsburgh convicted a Collier Township man on three counts of bank fraud Wednesday.
James Lignelli, 59, of St. Mellion Drive, was accused of providing fraudulent appraisals of homes for loan applications in two separate mortgage schemes, Assistant U.S. Attorney Brendan Conway said.
The jury deliberated for about five hours before returning its verdict during the trial.
Lignelli is scheduled to be sentenced by U.S. District Judge Terrence McVerry on Sept. 26. Federal prosecutors said he faces up to 90 years in prison and a $3 million fine.
Jessop Community Federal Credit Union