Conn. man admits charges he defrauded lenders

HARTFORD, Conn. (AP) - A Connecticut man has admitted to property schemes that federal prosecutors say defrauded lenders of $1.5 million.

The U.S. Attorney's office says John Voloshin of Woodbridge pleaded guilty Thursday in Hartford to mail fraud.

Authorities say in 2010 Voloshin defrauded an individual for whom he had agreed to bid on the bank auction of a hotel on Nantucket by using a $250,000 check for himself.

Prosecutors say Voloshin never repaid a $500,000 loan to buy a house on Martha's Vineyard and received a home equity loan of $250,000 after submitting a false tax return.

Prosecutors say he also received a $520,000 refinance loan after claiming an account balance in excess of $3 million when he had no such account.

Voloshin faces up to 20 years in prison when he is sentenced April 5.