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P R E S S   R E L E A S E

FOR IMMEDIATE RELEASE:

May 5, 2011


Meridian Man Sentenced for Providing False Information to a Financial Institution

Paul Redondo, 34, of Meridian, Idaho, was sentenced yesterday in federal court to three years' probation, three months of home detention, and 80 hours of community service for misdemeanor theft from a financial institution, U.S. Attorney Wendy J. Olson announced.

U.S. Magistrate Judge Ronald E. Bush also ordered Redondo to pay $101,459 in restitution. Redondo pleaded guilty to the charge on February 15, 2011.

According to court documents, Redondo admitted to providing false financial information to obtain a home equity loan from Washington Trust Bank.

Paul Redondo's wife, Melody, 32, pled guilty in February 2011, to making a false statement to a financial institution, a felony. She is scheduled to be sentenced by Chief United States District Judge B. Lynn Winmill on June 13, 2011.

The case is related to the ongoing Crestwood mortgage fraud case, which involved multiple defendants who bought and sold real estate in order to "flip" it, or gain profits from the sales.

The case was investigated by the Federal Bureau of Investigation and was prosecuted by the United States Attorney's Office and the State of Idaho, Office of the Attorney General.

Source: United States Attorney's Office for the District of Idaho


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