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URI professor charged in mortgage fraud scheme

January 29, 2011

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SOUTH KINGSTOWN, R.I.—A lawyer and longtime University of Rhode Island business professor is facing charges in connection with an alleged mortgage fraud scheme that included defrauding a student.

John Dunn was arraigned Friday before District Court Judge Mary McCaffrey on three felony counts of obtaining money under false pretenses. The 58-year-old Narragansett resident entered no plea on the felony charges and was released on $10,000 personal recognizance.

State police say Dunn obtained hundreds of thousands of dollars under false pretenses from Crescent Mortage Company, Lehman Brothers Bank and from Catherine Beckstein, a student who had loaned Dunn $417,000 from an inheritance she'd received from her late mother.

His lawyer, Anthony Traini, did not immediately return phone calls.

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Information from: The Providence Journal, http://www.projo.com/