16:59
societynews[dot] org
RIVERHEAD, NY – a former member of New York, convicted of insurance fraud this year declared guilty in a separate mortgage fraud scheme of several million dollars.
George Guldi (GOOL '-dee) admitted to grand larceny and other charges Friday in a Court of Suffolk County.
In the previous case, prosecutors say he pocketed $853,000 in insurance money after fire 2008 at his home in Westhampton Beach. He was sentenced to 4-12 years in prison.
The last indictment charged him with the creation of fake documents to obtain loans which involves approximately 60 properties, primarily in the Hamptons.
He was promised a sentence of one to three years to run concurrently with his other term of imprisonment. He should be sentenced on 31 August.
Prosecutors say that sought a sentence of up to 25 years.
Guldi served as a County legislator from 1994 until 2003.
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