Ex-Cranston lawyer pleads guilty in mortgage scheme
11:46 AM Tue, Jun 09, 2009 | Permalink
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PROVIDENCE, R.I. -- A Cranston lawyer, who has since been disbarred, pleaded guilty Tuesday in U.S. District Court to stealing $2.5 million from homeowners who were refinancing or buying new homes. Pasquale A. Scavitti III, 46, of Cranston, pleaded guilty before Chief U.S. District Judge Mary M. Lisi to one count of wire fraud for diverting money from 13 clients he assisted with their closings for personal and office use. He will face up to 30 years in prison and $1 million in fines at his sentencing Sept. 24. Scavitti was disbarred by the Rhode Island Supreme Court last August. 
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Why doesn't this thief go to prison now? He gets the next three months off after pleading guilty.
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I hope he also has to pay back the 2.5 million dollars he swindled out of innocent individuals that trusted him to help them with refinancing, etc. If his theivery has caused hardships on any of the people hurt by his deception, he should have to rectify that also. I can only imagine that the lenders that were expecting payment from his clients may have lost patience waiting for their money and have taken action to be paid. He should also have to pay interest to his victims. If he cries poverty and is found unable to pay, if he is part of a firm, they should be held financially responsible in his place. The common thread we read of so often is quite simply unabashed greed.
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