Top Stories 2012: Loronda Murphy Commits Fraud

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Former North Castle Republican Chair Loronda Murphy pleaded guilty to mortgage in September. Photo Credit: Westchester District Attorney's Office

ARMONK, N.Y. – As 2012 draws to an end, The Armonk Daily Voice is looking back at some of the top stories of the year.

In late September, former North Castle Republican chair Loronda Murphy pleaded guilty to two felony counts of residential mortgage fraud. She now faces a maximum of 25 years in prison, according to Westchester County District Attorney Janet DiFiore.

According to DiFore, Murphy, a Greenwich resident, stole more than $50,000 from five Westchester Country home owners in a Ponzi scheme with real estate attorney Scott Forcino, a New Rochelle resident, between April 2009 and June 2009.

Murphy and Forcino operated the home mortgage company Settle One Corporation in Armonk, in which they fooled five home owners into opening new mortgages on their homes, stealing portions of each loan for themselves in the process. One of the victims was Murphy’s father.

Murphy was required to pay $720,288 in restitution as part of her guilty plea.

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