Ex-Springs man, a murder suspect in N.J., indicted for mortgage fraud
Also charged with killing dad in N.J.
A federal grand jury has indicted a former Colorado Springs man in a mortgage loan and refinancing scheme in which he allegedly inflated the value of homes sold in the Pikes Peak region.
The 19-count indictment handed up Monday in U.S. District Court in Denver charges William M. Silvi with wire and mail fraud and with making monetary transactions from wire fraud. The indictment lists wire transactions totaling $1.9 million.
If convicted, Silvi faces up to 20 years in prison and a $250,000 fine on the top charges. Prosecutors also intend to seize property and money obtained through the alleged scheme.
Silvi is in jail in New Jersey, where he is awaiting a Sept. 14th trial on murder and conspiracy charges in the death of his father William Marcucci, on May 20, 2008, in a Bennigan’s parking lot in Saddle Brook, N.J. Marcucci, 64, had been shot once behind the left ear.
On Aug. 19, 2008, police arrested Silvi and his brother-in-law Daniel Tunks, 36, in Colorado Springs. Police said Tunks, a former truck driver worked for Silvi. The two men allegedly plotted the murder in Colorado Springs and then traveled to New Jersey to carry it out.
Investigators said the motive appeared to be for “financial purposes.” Police identified Silvi as a self-employed contractor with a company called All-American Remolding.
In the indictment, Silvi is accused of lining up people he knew to buy 11 homes in Colorado Springs, Fountain and Larkspur from March 2005 to January 2008. Some of the homes were bought and sold multiple times for inflated prices, the indictment states. The charges also include a 12th home that was refinanced twice.
Silvi is accused of supplying false information on the mortgage loan applications regarding the buyers’ employment and rental income, including false IRS W-2 forms and pay stubs. He is also accused of falsely stating that the property would be the primary home for the buyer.
The indictment contends that the property seller – who is not named in the indictment – would pay Silvi the inflated portion of the property usually at or shortly after the closing.
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