A former Wachovia Bank officer was sentenced on Friday to more than two years in federal prison for bank fraud, the U.S. Attorney's Office in Tampa said.
Andrew Vulpis, 30, of Gibsonton, was sentenced to 30 months in federal prison and ordered to repay $1.2 million. Vulpis forfeited a 2007 Volvo S40-5 sedan in partial satisfaction of the money judgment, the U.S. Attorney's Office said.
In 2007, Vulpis, who was an officer with Wachovia Bank in Tampa, was involved in 12 fraudulent residential real estate transactions in Hillsborough and Pasco counties.
In 11 cases, Vulpis submitted false and fraudulent loan applications to Wachovia Bank. He knew that the income of the applicants was inflated and that the applicants failed to qualify for the specific Wachovia loan, the U.S. Attorney's Office said.
In December 2007, Vulpis bought a $200,000 Tampa home owned by a co-conspirator. Vulpis applied for a $180,000 loan from Bank of America.
In the application, Vulpis inflated his income, assets and the down payment amount, the U.S. Attorney's Office said. A colleague provided Vulpis with the money for the down payment, but neither disclosed that information to Bank of America.
Vulpis pleaded guilty in November.
Sang Min Kim pleaded guilty in June 2010 and was sentenced to 41 months in federal prison. A second co-conspirator, Francisco Acevedo Jr., pleaded guilty in September 2011 and is awaiting sentencing.
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