A former state representative for the 75th District of CT has pleaded guilty to his role in a bank fraud scheme that involved his mortgage loan applications, the U.S. Attorney for the District of Connecticut has announced.
Victor Cuevas, 52, of Bristol, CT, was an employee of the City of Waterbury, and according
to court documents and statements made in court, in 2013, while serving as a City of Waterbury employee and the state representative, Cuevas applied for a Federal Housing Administration (FHA) loan in order to fund the purchase of a house in Bristol.
FHA loans are federally insured by the U.S. Department of Housing and Urban Development, and loans have certain restrictions on the funds that can be used for purchasing properties. In order to conceal the source of the funds, Cuevas connived with some Waterbury employees to make several misrepresentations to the lender that he was using cash gifts to fund the purchase when, in fact, the money were not gifts but loaned to Cuevas for the purpose of purchasing the property. [Read more…]