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Daily Archives: January 1st, 2012

375 Ocean Road, Narragansett

 $2 Million was made  in a home morgage  fraud scheme by a reputed  New England mob associate of the late  Raymond L.S.  Patriarca   named  Frederick “Freddy” Carrozzaa,  alleges a Rhode Island State Police affidavit

By: Jim Taricani ,turn to 10.com

Two arrests were made in connection with the sale of a Narragansett mansion and a money laundering mob associate who once owned it.

Carrozza listed the home in 2005 for $1.5 million but couldn’t sell it.

Police allege in 2006, Carrozza sold the home to Dr. Timothy O’Brien and his brother, Eugene O’Brien, for $2.4 million.  The home was valued at about $900,000.

The alleged scheme involved Dr. Timothy O’Brien lying  on a mortgage application and getting a $2.2 million mortgage for the purchase of the Ocean Road home and the sale proceeds going to Carrozza.  read more Click here: I-Team: Mob associate netted $2 million from home sale | Turn to 10  http://www.turnto10.com/story/21128919/i-team-arrests-connected-to-sale-of-mob-associates-home