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.
Roof Costs Soar Even as Claims Decline: Verisk 
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
Travelers: Vendor Issues Over Half of Wedding Insurance Claims in 2025 
Shipper Escapes $41.9M Award for Man Paralyzed When Lights Fell From Pallet on Him 
