Former Foxboro Man Sentenced in Multi-Million-Dollar Mortgage Fraud

BOSTON—A former Foxboro man was sentenced yesterday for mortgage fraud in connection with the purchases of residential properties. Christopher A. Chasse, 45, was sentenced by U.S. District Judge George A. O’Toole, Jr. to eight years in prison and three years of supervised release. In August 2014, Chasse pleaded guilty to 10 counts of wire fraud in connection with a mortgage fraud scheme. From June to September 2006, Chasse fraudulently caused mortgage lenders to finance $5.25 million for his purchases of residential properties in the greater Boston area. Chasse submitted false loan applications containing bogus information about his employment, income, assets, closing costs and related matters. Chasse created false identification documents, phony income tax returns and other IRS forms, fictitious employment records and bogus bank account statements, all to support false loan applications to 11 lenders. Chasse also recruited other buyers for fraudulent mortgage loans. All of the properties went almost immediately into foreclosure for lack of payments, and the lenders suffered more than $4 million in losses.