A former New York lawmaker convicted of insurance fraud earlier this year has pleaded guilty in a separate multimillion-dollar mortgage fraud scheme.
George Guldi admitted to grand larceny and other charges Friday in a Suffolk County courtroom.
In the earlier case, prosecutors say he pocketed $853,000 in insurance money after a 2008 fire at his Westhampton Beach home. He was sentenced to 4-12 years in prison.
The latest indictment charged him with creating phony documents to obtain mortgages involving about 60 properties, mostly in the Hamptons.
He was promised a one-to-three-year sentence to run concurrently with his other prison term. He’s to be sentenced Aug. 31.
Prosecutors say they were seeking a sentence of up to 25 years.
Guldi served as a county legislator from 1994 until 2003.
Was this article valuable?
Here are more articles you may enjoy.
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
Best Agency to Work For – Overall Winner: Robertson Ryan Insurance 
Florida Jury Awards Jack Nicklaus $50M in Defamation Suit vs. His Former Company 
A 7-Minute Louvre Heist Leaves Behind DNA and Dropped Crown 
