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
