St. Louis, MO - Peter Faccaro was sentenced to 30 months in prison and ordered to pay restitution of $641,523, for using false names, social security numbers and other documents to obtain loans to purchase nine properties in St. Louis, Washington, Missouri and Grafton, Illinois, United States Attorney Catherine L. Hanaway announced today.

“Fraudulent transactions of these kinds have a devastating effect on neighborhoods as they adversely impact property values and increase the foreclosure rates,” said Hanaway.

Between April 2002 and February 2006, Peter Faccaro, 44, of the 1200 block of Charmwood, Kirkwood, purchased multiple properties under five different names, using other people’s social security numbers. Faccaro used false documents to support the loans on these properties. The mortgage brokers and warehouse lenders who funded their loans relied upon this information to extend credit.

Faccaro pled guilty to one felony count of wire fraud and one felony count of misuse of a social security number in February 2006 and was sentenced today by United States District Judge Catherine D. Perry.

Hanaway commended the work on the case by the Federal Bureau of Investigation, the Housing and Urban Development Office of Inspector General, the Social Security Administration Office of Inspector General; and Assistant United States Attorney Howard J. Marcus, who handled the case for the U.S. Attorney’s Office.