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Longboat property owner charged with fraud, conspiracy

Federal prosecutors this week filed charges in Pittsburgh against a Florida man who allegedly conspired with an Edgeworth man in a $2.4 million bank fraud.

Mark Anthony Sosso, 43, of Lakewood Ranch, is charged with one count of conspiracy, but the way the count was filed typically means the defendant has worked out a plea agreement with the government.

The owner of Sosso Homes LLC in Sarasota, Sosso in 2005 bought a house on Longboat Key, that he planned to renovate and sell.

When he couldn’t sell it or make payments on the $1.62 million mortgage, he asked childhood friend Joseph W. Nocito Jr., 44, president of Castle Mortgage Co. in McCandless, to bail him out, according to prosecutors.

Nocito pleaded guilty in March to claiming he was buying the house for $3 million and making a $600,000 down payment when, in fact, he received a $458,000 kickback and defaulted on the loan, prosecutors say. He pleaded guilty to filing a false income tax return. U.S. District Judge Arthur Schwab has scheduled Nocito’s sentencing for Oct. 15.

 

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Longboat Key News

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