ROCHESTER, N.Y. - U.S. Attorney William J. Hochul, Jr. announced today that Janet Faticone, aka Janet Bixby, 50, of Webster, N.Y. was charged by criminal complaint with wire fraud. The charge carries a maximum penalty of 20 years in prison, a $250,000 fine, or both.
Assistant U.S. Attorney Bradley E. Tyler, who is handling the case, stated that the defendant works at New York State Title and Abstract (NYSTA). Without proper authority, Faticone acted as a “settlement agent" for a national title insurance company, to facilitate the issuance of title insurance policies. However, as part of the alleged scheme, the defendant created forged and fraudulent mortgage loan insurance policies for which she received commission payments.
The defendant made an initial appearance today before U. S. Magistrate Judge Marian W. Payson. Faticone was released and is due back in court on December 5, 2014 at 9:00 a.m. for a status hearing.
This law enforcement action is part of President Barack Obama=s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
The criminal complaint is the culmination of an investigation by the Federal Bureau of Investigation and Investigator Bill Fedrau of the New York State Department of Financial Services’ Financial Frauds and Consumer Protection Division, under the direction of Assistant Chief Sean Ralph, Director Frank Orlando, Executive Deputy Superintendent Joy Feigenbaum and Superintendent Benjamin M. Lawsky.
The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.
Source: U.S. Department of Justice, Office of the United States Attorneys
