Former Las Vegas real estate escrow officer convicted of fraud
Las Vegas, NV (KTNV) -- 60-year-old Theresa Marcianti of Las Vegas has been convicted of conspiracy to commit bank, mail and wire fraud, two counts of bank fraud and one count of wire fraud.
The conviction followed a two-week jury trial for the former real estate escrow officer.
Marcianti is facing 20 years in prison and $250,000 fine on the conspiracy count and up to 30 years in prison and $1 million fine on each bank fraud and wire fraud count.
Marcianti was employed by Lawyer's Title and National Alliance Title. Authorities said she conspired with others to trick lenders into making home loans through the use of false statements.
The group was able to obtain control of 227 properties, which had a total purchase price of more than $100 million. The exact number of transactions that Marcianti was directly involved in is unknown.
She will be sentenced Dec. 10.