Schenectady contractor to be sentenced in defrauding scheme

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Schenectady contractor to be sentenced in defrauding scheme

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New York Attorney General Eric Schneiderman says between 2006 and 2007 Rossi stole $640,000 by forging documents and client signatures as well as setting up "straw land purchases." In this "straw purchase" scheme, borrowers appear to be purchasing the land and the dwelling, which in fact they are merely obtaining the funding for the builder.

Rossi, 46, then allegedly used the money for personal purposes and the borrowers defaulted on the loans.

Rossi will be sentenced at 9 a.m. in Schenectady County Court.

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Schenectady contractor to be sentenced in defrauding scheme - NEWS10 ABC: Albany, New York News, Weather, Sports

Schenectady contractor to be sentenced in defrauding scheme

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