The man behind the largest white-collar theft ever prosecuted in Suffolk County, N.Y., was sentenced to four to 12 years in prison.
Donald MacPherson, 68, of Manhattan, pleaded guilty in November to 34 counts of grand larceny and numerous other felonies for bilking lenders out of more than $44 million in a massive mortgage fraud scheme. He was sentenced this week.
In total, the mortgage scammers, which included other co-defendants, stole $82 million from lenders by inflating purchase prices, fabricating documents and using straw buyers to make phony purchases and obtain mortgages. Read more at Newsday.