Man pleads guilty in Eastern Shore bank fraud case

NORFOLK

A Maryland man pled guilty Wednesday to fraudulently securing nearly $2.2 million in loans to purchase five properties in Cape Charles.

Thomas E. Green, 57, of Ocean City, Md., pled guilty to conspiring to commit wire and bank fraud, which carries a maximum penalty of 30 years in prison, according to a release from Neil H. MacBride, U.S. Attorney for the Eastern District of Virginia. Sentencing has been scheduled for May 23.

According to a statement of facts filed with his plea agreement, Green admitted that from January 2007 through September 2008 he conspired with others to commit mortgage fraud on various properties. Based on Green’s false representations, he was able to secure five mortgages valued at approximately $2.18 million from various mortgage lenders, the release said.