Dentist Charged in Mortgage Fraud Scheme

There is nothing worse than going to the dentist, but how often does the dentist moonlight by engaging in mortgage fraud.  A press release from the U.S. Attorney’s Office for the District of New Jersey (here) describes a scheme by Terrance Stradford, a Staten Island dentist, and a friend, Christina Hachadoorian, to mortgage the same property three times in 2004 when it was already encumbered by first and second mortgages.  The government charged the two defendants with conspiracy, wire fraud, and money laundering for mortgage the property for $500,000, $585,000, and $275,000 in June, August, and September 2004 with three different mortgage lenders.  Among the items purchased with the proceeds of these loans was property in North Carolina, a 1998 Maxum 46′ yacht, and a 2005 GMC Yukon Denali.  No word on whether the good doctor found time to practice dentistry at the same time. (ph)


4 responses to “Dentist Charged in Mortgage Fraud Scheme”

Leave a comment