Madison Lawyer Sentenced for Mortgage Fraud Scheme

Paul DiGiacomo was sentenced to seven years in state prison.

Madison resident Paul DiGiacomo was sentenced Thursday to seven years in state prison for his role in a mortgage fraud scheme that involved obtaining a mortgage in a dead man's name, the New Jersey Office of the Attorney General announced.

DiGiacomo, a lawyer, must serve a year and four months before he is eligible for parole, and pay nearly $200,000 in fines and restitution, according to a Star-Ledger report about the sentencing.

His attorney said DiGiacomo participated in the scheme as his real estate law practice was struggling and he was trying to support his family of four children.

His attorney, Vincent Basile, said in an interview the one-time youth sports coach is a "wonderful guy."

"He used really poor judgment in an effort to support his family," Basile said, adding that it's not an excuse for what he did.

He said he would apply to have DiGiacomo accepted into an intensive supervision program. If accepted, DiGiacomo could be eligible for parole in six months, he said.

DiGiacomo . He was one of five defendants who pleaded guilty in connection with the case, which involved defrauding an unsuspecting lender of $431,200 by getting a mortgage in a dead man's name.

The others involved in the scheme are scheduled to be sentenced on Oct. 12.

Terry Ziegler September 15, 2012 at 12:31 PM
I imagine that this is a very painful time for Paul's family. I hope that our community in Madison will stay true to form and offer his wife and their children the warmth and support that they will need to get through this difficult time. Please be sensitive to their welfare when you post opinions on this venue.
typical September 16, 2012 at 08:48 PM
He should have considered them when he decided to break the law. He should be ashamed of himself, dragging his families name through the mud. Why don't you cook them dinner for tonight.
The Good Guy September 20, 2012 at 04:48 PM
The America way - you don't have money, steal it... But I do feel bad for his kids since I know them. Hopefully when they grow up they learn not to follow in their father's foot steps.
SUSAN MANNA September 25, 2012 at 05:37 PM
When a family is suffering whatever the circumstance do we kick them when their down or offer a helping hand?
Samuel September 27, 2012 at 09:39 PM
@ Nick - I hope his children DO follow in his footsteps since he's a good person and didn't knowingly commit a crime. He acted as an attorney to clients that turned out to be criminals—he was guilty by association, its' as simple as that. There's no evidence that he profited off the scam other than his standard closing costs for a real estate deal, which he proved in court but it didn't seem to matter. Paul's case is a true modern-day witch hunt and the judge made an example of him because he's an attorney. There are two sides to every story, but the vast majority of people commenting here choose to ignore that fact, and it speaks volumes about the residents of Madison. I thank God everyday that I don't live in that town.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »