BUFFALO, NY (WROC) - Another man charged in a fraud case involving prominent Rochester development company Morgan Communities has pleaded guilty.
Patrick Ogiony has pleaded guilty to a count of conspiracy to commit bank fraud. He now faces up to five years in prison.
Ogiony was one of four people arrested last spring in the case. The men were accused of taking part in a scheme to overvalue properties of Morgan Communities in order to secure larger loans from financial institutions.
Prosecutors said the suspects worked to make buildings appear to be occupied, by residents paying higher rent rates, to inflate the income for the properties.
Also charged in the case were the son and nephew of prominent developer Bob Morgan: Todd and Kevin Morgan. A fourth man, Frank Giacobbe, was also indicted in the case.
In December, Kevin Morgan pleaded guilty to charges of conspiracy to commit bank fraud. He faces also five years behind bars.
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