A disbarred lawyer was sentenced to five years in prison and fined $50,000 Tuesday for falsifying mortgage applications so banks would lend money to unqualified home buyers.
Mark Bellotti, formerly a Matawan solo, had pleaded guilty on Feb. 21 to conspiracy and theft by deception. Prosecutors said he gave false information about employment, earnings and bank account balances on applications so that seven loans totaling $2.67 million would go through. He also falsified U.S. Department of Housing and Urban Development settlement forms.
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