Former Real Estate Investment Company Owner Pleads Guilty to Laundering Proceeds of Mortgage Fraud

Andrew T. Baxter, United States Attorney, Patricia J. Haynes, Special Agent in Charge, Internal Revenue Service, Criminal Investigation Division (New York Field Office), John F. Pikus, Special Agent in Charge, Albany Division of the Federal Bureau of Investigation, and Robert Bethel, Inspector in Charge, United States Postal Inspection Service, announce that KEVIN M. O'CONNELL, age 35, of Albany, pled guilty in United States District Court in Albany before the Honorable Norman A. Mordue today, to a one-count information charging him with the felony offense of laundering of monetary instruments in violation of Title 18, United States Code, Section 1956(a)(1)(A)(i), in connection with his role in an extensive mortgage fraud scheme that defrauded financial institutions and other mortgage lenders of over $5.3 million in loans. Posted in: Internal Fraud