2 Berks County couples sue mortgage broker accused of fraud
READING, Pa. (AP) - Two Berks County couples have sued a mortgage broker awaiting sentencing on fraud charges.
Prosecutors say Wesley Snyder ran a Ponzi scheme that defrauded homeowners and investors out of more than $29 million over two decades. The 71-year-old pleaded guilty to a federal charge of mail fraud and will be sentenced in March. He faces up to 30 years in prison.
In the lawsuit, the two couples say they were cheated by Snyder and SunTrust Mortgage Inc. They are seeking credit for tens of thousands of dollars they say they paid on their mortgages.
SunTrust claims it never got the money and now is demanding it.
The suits also seek class-action status for all Pennsylvania mortgage customers whom SunTrust got through Snyder’s company, which collapsed in September.
