Source: Albany Times Union
Five former employees of a Colonie firm that conned property owners, banks and lenders in a large-scale mortgage fraud scheme are all headed behind bars and owe millions of dollars.
The ex-members of the now-defunct Rivertown Investments at 1762 Central Ave. shed tears, apologized to victims and pleaded for leniency. The company's former owner denied being a criminal — and said it would be "simply impractical" to imprison him.
That failed to move County Judge Stephen Herrick before a packed courtroom of victims and weeping relatives of the defendants.
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