A federal jury on Monday convicted a Pleasant Hills, Pennsylvania, man and West Mifflin, Pennsylvania, woman of fraud charges for their roles in a mortgage scheme involving what was once one of the largest mortgage broker businesses in Western Pennsylvania.
James Nassida, 48, and his sister, Janna Nassida, 45, were found guilty of bank fraud and conspiracy to commit bank and wire fraud, U.S. Attorney David Hickton said.
They were tried before U.S. District Judge Donetta Ambrose. Jurors deliberated for an hour before returning guilty verdicts.
James Nassida owned and operated Century III Home Equity, and Janna Nassida was a manager and loan officer for the company.
At trial, prosecutors argued that many of the company’s loans used appraisals that fraudulently inflated a property’s true value and contained other aspects of fraud.
Sentencing for the Nassidas is scheduled for March 29.
