Four charges in multi-million dollar mortgage, insurance fraud scheme

WHITE PLAINS – Federal authorities have charged four men in a superseding indictment with a wide-ranging scheme to commit mortgage or insurance fraud.

Dominick DeVito and Robert DiDonato were charged with committing mortgage fraud. They were also charged along with John Liscio and Louis Cordasco, Jr. with participating in an associated insurance fraud scheme.

It is alleged DeVito was the leader of a fraudulent real estate investment scheme, which had as its primary objective the purchase of multi-million dollar residential properties in various communities in Westchester County, including in Purchase, with loans obtained through the submission of false and misleading information to banks and other lenders.