Real Estate Lawyer Admits To Stealing Mortgage Proceeds
Massachusetts attorney David Spector was apparently good at closing real estate deals - so good that his clients didn't know he was using some of their mortgage proceeds to steal almost $602,000, the Associated Press said. Now, Spector, 52, has pleaded guilty in a Providence, R.I. federal court to wire fraud and money laundering. Prosecutors charged that he siphoned off money when closing three mortgage refinancing deals to pay personal expenses and and prior mortgage notes. He will be sentenced in August, the AP said.