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Updated Nov 14, 2012 - 7:54 am

Arizona brothers get prison time for bilking elderly

CHICAGO — Two brothers who bilked elderly Chicago residents out of more
than $750,000 in home equity are each going to federal prison for 14 years.

U.S. District Judge Ruben Castillo sentenced Daniel Sullivan, 46, of
Niles and John Sullivan, 50, of Surprise, Ariz., on Tuesday. They were
convicted last fall.

Prosecutors said the brothers convinced more than 50 elderly homeowners to
refinance their homes to pay for expensive repairs that were never completed.
They also engaged in investment and mortgage fraud and deception involving
millions of dollars.

Authorities said one woman killed herself after John Sullivan claimed to have a
romantic interest in her and then defrauded her mother of her life’s savings of
almost $600,000.

The Sullivans also must each pay $711,000 in restitution and forfeit $749,000.

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