Tarczynksi made up a lucrative business and annual salary to get real estate loans to purchase condominiums in South Hadley and Florida.
The federal courthouse in Springfield.SPRINGFIELD – A Pompano Beach, Fla., man pleaded guilty in a federal court in Springfield to buying condominiums in the Sunshine State and South Hadley by claiming he owned a consulting company and held big balances in his bank accounts.
David Tarczynksi pleaded guilty to conspiracy and bank fraud in U.S. District Court on Wednesday, risking more than three years in prison and a million-dollar fine under a plea deal with prosecutors.
Tarczynksi, 40, admitted conspiring with two other men who dove into the real estate speculation game in 2004. Also charged with Tarczynksi were James. M. June, 50, of South Hadley, and Jason R. Foisy, of Port Orange, Fla.
According to Assistant U.S. Attorney Karen L. Goodwin, Tarczynksi signed his name to several applications for bank loans at the direction of his alleged co-defendants, which included a concocted consulting company based on a business certificate he filed with Springfield’s City Hall and a falsified six-figure salary for Tarczynksi.
“They began by getting some seed money,” Goodwin told U.S. District Judge Michael A. Ponsor.
The trio went to Bank of America and got a $100,000 line of credit and bought a $1.1 million property in 2004, and then bought a condominium in Shadowbrook Estates in South Hadley in 2005, continuing to inflate the value of the company and Tarczynksi’s salary and accounts. “During that time, one account had no money in it and a second had 500 bucks,” Goodwin said.
Cases against Foisy and June are pending. Tarczynksi’s sentencing date has not yet been set.