Tuesday, August 29, 2017
PITTSBURGH (AP) — A Pennsylvania businessman who won a new trial because his first lawyer fell asleep during proceedings has pleaded guilty to fraud charges.
James Nassida pleaded guilty to wire and bank fraud at federal court in Pittsburgh this morning. The Pittsburgh Post-Gazette reports his family and new lawyer refused to comment on the plea.
Federal agents say Nassida and his sister led a scheme to inflate borrower income and assets to obtain millions in fraudulent loans through their mortgage brokerage firm. The scheme was among the largest investigated by the local mortgage fraud task force.
Nassida’s sister killed herself after the two were convicted last year.
A judge ruled, however, Nassida was denied a fair trial because Atty. Stan Levenson dozed off during the October trial where Nassida was convicted.