Man extradited from Ireland faces mortgage scheme fraud charges

A dual citizen of Ireland and the United States has been extradited from Ireland to face federal charges over an alleged mortgage fraud scheme.

The US attorney's office said former Massachusetts resident, 44-year-old Patrick Lee, was arraigned on Thursday in Boston.

Lee, who has been living in Ireland for ten years, was indicted in 2011.

His extradition was Ireland's first to the US since 2012.

Prosecutors allege Lee participated in a mortgage fraud scheme from 2005 to 2007, shortly before the housing bubble burst.

The indictment said Lee and others converted Boston properties into condominiums, prepared fake mortgage loan applications and forged property appraisals.

The properties eventually went into foreclosure. Prosecutors said lenders lost money in the scheme.

Lee's attorney told The Boston Globe her client will be acquitted.

AP


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