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New York appraiser convicted of fraud for inflated appraisals
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U.S. Attorney William Hochul, Jr. announced that Darryl Glasco, a Pendleton, N.Y., appraiser, has been convicted of bank fraud for his role in a mortgage fraud scheme that defrauded JP Morgan Chase and Bank of America.
U.S. District Judge Richard Arcara sentenced Glasco to six months of home detention and four years supervised release. Glasco also has been ordered to pay restitution totaling $334,024 to JP Morgan Chase and Bank of America. Glasco faced a maximum penalty of 30 years in prison and up to a $1 million fine.
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