Nassida, former president of Century III Home Equity in the South Hills, was head of what federal authorities have described as an incubator of mortgage fraud at Century III that later spawned other investigations by the U.S. attorney’s Mortgage Fraud Task Force. His sister, Janna Nassida, who was his second-in-command at Century III, is also set to go on trial with him. see this websiteJury selection is expected to resume today if she is well enough to continue. Mr. Nassida, a mortgage industry veteran who started Century III, is accused of orchestrating a scheme using fake documents to fool lenders into making millions of dollars in loans. He and Janna Nassida are charged with conspiring with others to submit inflated borrower incomes and assets on loan applications from 2002 to 2008. Prosecutors say Mr. Nassida used the proceeds from his schemes to finance a fancy lifestyle, which includes his $1.3 million home, a $500,000 vacation home, an Aston Martin car and other luxuries.
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