A former Falmouth attorney pleaded guilty to two counts of wire fraud and was sentenced to 51 months in prison today, according to an FBI release. US District Judge Patti B. Saris sentenced Craig J. Martin, 54, of Falmouth, to 51 months in prison, to be followed by two years supervised release. Martin, who practiced law in Taunton, MA, must also pay $2.9 million in restitution.
According to the release, Martin, as a closing attorney for real estate transactions, received mortgage loan funds from lenders to be held in an attorney trust account and used for closings. Rather than using the funds to pay off mortgages on the properties, Martin misappropriated more than $3 million and falsified loan closing documents to cover his tracks.
The case was tried by US Attorney Carmen Ortiz's Office.