Community Corner

MacPherson Sentenced for Role in Mortgage Stacking Scheme

Donald MacPherson gets four to 12 years in prison.

Westhampton Beach resident and former owner of Donald MacPherson, who was George Guldi's co-defendant in a $82 million mortgage stacking scheme was sentenced to four to 12 years in prison on Monday afternoon by a Suffolk County judge.

MacPherson's sentencing comes after he pleaded guilty to 23 counts of grand larceny in the first degree, 11 counts of grand larceny in the second degree, one count of scheme to defraud in the first degree, three counts of insurance fraud in the third degree and seven counts of criminal possession of a forged instrument in the second degree in November.

MacPherson's made the plea two days prior the to start of his trial.

Find out what's happening in Westhampton-Hampton Bayswith free, real-time updates from Patch.

Carrie Coakley, MacPherson's wife, who was also charged in the scheme, pleaded guilty in December to grand larceny in the second degree and scheme to defraud in the first degree. She is scheduled to be sentenced on March 8.

Former Suffolk County Legislator Guldi is currently serving his sentence at the  Woodbourne Correctional Facility in Sullivan County. He was convicted after a and grand larceny charges, and . Five months later, after in his role in the mortgage fraud ring, he .

Find out what's happening in Westhampton-Hampton Bayswith free, real-time updates from Patch.

Of MacPherson's sentence, Suffolk County District Attorney Thomas Spota said, "JP Morgan Chase, Bank of America, Wells Fargo and other lenders were swindled by this defendant and his associates who arranged for the filing of mortgage applications that were filled with fraud, specifically false employer information supplied to straw purchasers, forged notary signatures, and falsified powers of attorney and fictional bank balances. Every one of these mortgages for some 60 homes ended up in default. The defendants’ greed inflicted massive economic damage to the banking industry and the regional economy." 


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here