A Las Vegas real estate escrow officer was convicted of conspiracy and fraud charges on Friday in a five-year, multimillion dollar scheme.
Theresa Marcianti, 60, faces up to 20 years in prison and a $250,00 fine after she was convicted of one count of conspiracy to commit bank, mail and wire fraud, two counts of bank fraud and one count of wire fraud.
She is scheduled to be sentenced Dec. 10.
From 2003 to 2008, Marcianti conspired with others to trick lenders into making home loans through the use of false statements, according to the indictment.
She, along with other conspirators, submitted false information to the lenders to obtain mortgage loans. They then used the money for personal use, according to the report.
The conspirators in the scheme obtained control of approximately 227 properties, which had a purchase price of more than $100 million.
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