Former N.Y. Official Admits Guilt in Hamptons Fraud
A former New York lawmaker convicted of insurance fraud earlier this year has pleaded guilty in a separate multimillion-dollar mortgage fraud scheme.
George Guldi admitted to grand larceny and other charges Friday in a Suffolk County courtroom.
In the earlier case, prosecutors say he pocketed $853,000 in insurance money after a 2008 fire at his Westhampton Beach home. He was sentenced to 4-12 years in prison.
The latest indictment charged him with creating phony documents to obtain mortgages involving about 60 properties, mostly in the Hamptons.
He was promised a one-to-three-year sentence to run concurrently with his other prison term. He’s to be sentenced Aug. 31.
Prosecutors say they were seeking a sentence of up to 25 years.
Guldi served as a county legislator from 1994 until 2003.
- PVC Pipes Swept Away by Helene Still Dominate Cleanup of NC River
- KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event
- All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery
- Adjuster Created Law Firm and Fake Claim to Defraud Insurer of $1M, Officials Charge