TAMPA, Fla. — A Largo man has been sentenced to over four years in federal prison for his involvement in multiple fraud schemes.
In one of the schemes, James John Melis, 54, was working as a business manager at a private school in Hillsborough County. That's when prosecutors said he fraudulently attached his personal bank account to one of the school’s financial accounts.
The Justice Department said Melis would initiate fraudulent electronic funds transfers to his personal account after parents made tuition payments, then use the money on travel and luxury items.
In the second scheme, Melis committed mortgage origination fraud against a financial institution for two properties he owned.
To deceive the lender into believing that he was a qualified borrower, Melis used the information of another person on loan applications to prepare and submit false and fraudulent IRS income tax returns, fictitious satisfactions of mortgages falsely representing that his properties had equity, and lease agreements falsely showing he received substantial rental income.
The financial institution approved and funded both mortgage loans, which were purchased and guaranteed by the Federal National Mortgage Association.
Melis pleaded guilty to bank fraud and wire fraud on March 20. He has also been ordered to pay $684,000 in restitution.
