Mob Associate, Stephen Sharkey Sentenced to 4+ Years for Real Estate Fraud Scheme
The defendant stole down payments for homes from two different families
PHILADELPHIA (STL.News) Acting United States Attorney Jennifer Arbittier Williams announced that Stephen Sharkey, 51, of Swedesboro, NJ, was sentenced to four years and one month in prison, three years of supervised release, and was ordered to pay $296,000 restitution, and to forfeit the same amount of money by United States District Court Judge John R. Padova for wire fraud, aggravated identity theft and money laundering.
In September 2020, the defendant pleaded guilty to two counts of conspiracy to commit wire fraud, eight counts of wire fraud, one count of aggravated identity theft and, one count of money laundering in connection with three brazen and predatory frauds which greatly harmed innocent victims and netted the defendant more than $385,000. Sharkey engaged in two mortgage-closing schemes to defraud potential home buyers – stealing money that the victims had intended to use to purchase residences for themselves and their families. In the third scheme, the defendant stole all of the proceeds of the sale of a house by secretly going to closing without telling the seller.