Connecticut Man Pleads Guilty to Falsifying BofA Mortgage App

David B. Fein, U.S. Attorney for the District of Connecticut, has announced that John J. Doran of Niantic, Conn., formerly of Deep River, Conn., pleaded guilty before United States Magistrate Judge Donna F. Martinez in Hartford to one count of making false statements to influence a bank in connection with a mortgage application. According to court documents and statements made in court, in May 2007, Doran applied to Bank of America for a mortgage to purchase a condominium in New Haven. In connection with the application, Doran submitted a false individual tax return that indicated that his adjusted gross income for 2004 was $464,197 when, in fact, the actual 2004 tax return Doran filed with the Internal Revenue Service showed an adjusted gross income of -$69,298. Doran also submitted a fictitious sale contract for his personal residence in Deep River and a false bank statement. In pleading guilty, Doran also admitted that, in March 2005, he submitted a false individual tax return in connection with a $500,000 refinance loan application with JP Morgan Chase. The tax return indicated that his adjusted gross income for 2003 was $296,735 when, in fact, his actual 2003 tax return showed an adjusted gross income of -$81,911. Doran also admitted that, in March 2007, he submitted false individual 2003 and 2004 tax returns in connection with a loan application to Wachovia Dealer Services to finance the purchase of a yacht. Doran is scheduled to be sentenced by United States District Judge Robert N. Chatigny on June 25, 2013, at which time Doran faces a maximum term of imprisonment of 30 years and a maximum fine of approximately $1.9 million. As part of his plea agreement, Doran has agreed to pay restitution of $991,883.65.