Guilty Plea Entered in $2M Mortgage Fraud Case

A Michigan man pleaded guilty to defrauding ""SunTrust Mortgage Inc."":https://www.suntrustmortgage.com/ on a $2 million mortgage.

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Robert Martin Tolentino, of Grand Rapids, Michigan, pleaded guilty in a federal court in Tallahassee, Florida. The plea was announced by Pamela C. Marsh, U.S. Attorney for the Northern District of Florida.

Tolentino applied in October 2006 for refinancing of his residential property on St. George Island.

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In the application, he falsely represented that his monthly salary was $48,000 to $60,000 a month.

Tolentino's W-2 forms showed that his annual salary was approximately $183,647 and $174,250 for the 2005 and 2006 tax years, respectively.

Tolentino also falsely said that the property was his primary residence when he had actually listed it with a vacation rental business. He received more than $20,000 in rental income between July and December 2006, none of which was disclosed on the application.

SunTrust approved the loan for $2 million based on Tolentino's false information.

Tolentino's sentencing is scheduled for September 26 before U.S. District Judge Robert L. Hinkle. He is facing a maximum sentence of 30 years in prison, a $1 million fine, five years of supervised release, and a $100 special monetary assessment for his conviction for committing wire fraud affecting a financial institution.

The case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Winifred Acosta NeSmith.