A Co Kildare man wanted in the US to face fraud, money-laundering and identity theft charges has lost an appeal against an order for his extradition.
Patrick Lee (42), of Newtown, Co Kildare, was freed on conditional bail by the Court of Appeal on Wednesday, pending his application to the Supreme Court for leave to appeal against the extradition order.
The US wants to prosecute him for offences including wire fraud, unlawful monetary transaction and aggravated identity theft, which carry a total maximum prison sentence of up to 42 years.
Mr Lee denies claims he knowingly engaged in a scheme to intentionally defraud numerous US banks and mortgage lenders through loans for properties which were never repaid.
The High Court was told a number of properties were purchased in several locations around Boston between 2006 and 2007 and subsequently converted into one or more apartments.
It was alleged “straw buyers” were recruited to buy the properties.
They were assured the properties would be resold within six months and received up to $20,000 (about €17,700) each in exchange for their date of birth, social security number and signatures, all of which were required to draw down the mortgage loans.
Mr Lee is alleged to have fraudulently prepared appraisals of the properties and to have received about $1 million (about €880,000) for his role in the scheme.
All of the properties fell into foreclosure and the lenders lost money.
Fraud is alleged to have occurred when the lenders wired the mortgage loans to real estate lawyers who closed the sales, the High Court was told.
Extradition Act
After Mr Lee’s extradition was ordered by the High Court in March 2015, he appealed to the Court of Appeal, where the core issue was whether his extradition was prohibited under Section 15 of the Extradition Act 1965.
Section 15 states extradition shall not be granted where the offence for which it is requested is regarded under Irish law as having been committed in the State.
Mr Lee had claimed he was outside the US and living in the Stae when some of the alleged offences were committed.
The Court of Appeal dismissed those arguments.
