$2M mortgage scam nets Sarasota man six-year prison term

TAMPA — Sarasota resident J. Patrick Brester has been sentenced to six years in federal prison for his role in a property flipping mortgage fraud scheme.

U.S. District Judge Richard Lazzara also ordered Brester, 41, to forfeit $1,995,800 that's traceable to proceeds of the offense, according to a release from the U.S. Attorney's office. Brester was found guilty June 4 of conspiring to commit wire fraud affecting a financial institution and committing wire fraud affecting a financial institution. 

Brester, according to court documents and evidence presented at trial, conspired with Michael Chadwick, Matthew Landsman, Joshua Unger and others to engage in fraudulent cash-back-to-buyer mortgage transactions, the release states. The transactions involve the 2007 purchase and sale of condos at Vintage Grand in Sarasota.