Northport Man Sentenced For $9M Wire, Bank Fraud

A top business executive from Northport was sentenced on Monday to serve 24 months in prison for conspiring to commit $8.9 million in wire and bank fraud, according to the U.S. Attorney's Office of the Eastern District of New York.

Matthew T. Voss, 43, Chief Operating Officer of Long Island mortgage lender Vanguard Funding, LLC (Vanguard), was also sentenced to serve three years' supervised release following his prison sentence.

“With today’s sentence, Matthew Voss has been held accountable for using his extensive knowledge of the mortgage industry to deceive banks that trusted and relied upon him as a business partner and divert money for his personal use,” United States Attorney Richard P. Donoghue said in a press release.

Officials say Voss and 41-year-old Scarsdale resident Edward J. Sypher, Jr., who served as Vanguard's Chief Financial Officer, obtained warehouse loans, or short-term loans, for Vanguard by "falsely representing that Vanguard would use the proceeds of those loans to fund mortgages or mortgage refinancing for Vanguard's clients," from August 2015 to March 2017.

Voss and Sypher would, once Vanguard received the loans, divert the loans and use the money for their own personal use, and to pay off other fraudulent loans, officials say.

Officials say almost $9 million in loans were fraudulently obtained and misused.

Voss and Sypher were arrested in August 2017 along with Vanguard's President of Sales, 39-year-old Nissequogue resident Edward E. Bohm.

Voss pleaded guilty in February. He faced up to 20 years in prison at his sentencing.

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