An East Aurora man was sentenced Thursday to 2½ years in federal prison for money laundering.
John Sorrentino, 46, used fraudulent loan applications to entice five banks in Western New York and Arizona to lend him large sums of money. Prosecutors said Sorrentino filtered the proceeds from those fraudulent loans into a down payment for the purchase of a home in East Aurora. In applying for a mortgage for the property, he provided false information regarding his salary, employer, and address.
Sorrentino also used a fraudulent loan application to obtain a mortgage and a home equity line of credit on a property in Arizona, prosecutors said. They said the federal government will take ownership of Sorrentino’s East Aurora home, the computers he used to facilitate his unlawful activity and a truck he purchased with illegally obtained funds.
Chief U.S. District Judge William M. Skretny handed down the 31-month prison term in the case.