Man accused of bilking investors denied early prison release
CONCORD, N.H. (AP) - The head of a failed New Hampshire mortgage firm who bilked investors out of tens of millions of dollars has once again been denied a chance at early release.
Scott Farah, who’s served about two thirds of a 15-year federal prison sentence, was denied a request for compassionate release last week by a federal judge. Farah cited his deteriorating mental health related to a previous unsuccessful plan for release, his age and weight, and the declining health of his aging father.
The 57-year-old Farah headed the now-defunct Financial Resources Mortgage.
Farah pleaded guilty to mail and wire fraud in 2011 and admitted pooling investor funds to pay off other loans, investors and personal expenses.
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