COLUMBUS – Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor announced that former title insurance agent Steven P. Connolly, of Copley, Ohio, has been sentenced to five years in prison and ordered to pay more than $1 million in restitution after pleading guilty to crimes related to a mortgage fraud scheme. The Department worked jointly with the Federal Bureau of Investigation’s (FBI) Canton Office and the U.S. Attorney’s Office to bring Connolly to justice.

“Thanks to a joint investigation led by federal authorities and the Ohio Department of Insurance, Mr. Connolly’s victims have received some justice,” Taylor said. “I am pleased our office was able to assist federal prosecutors in securing guilty pleas from Mr. Connolly for the crimes he committed.”

The scheme involved four properties in the Akron and Cleveland areas. Connolly diverted more than $1 million for his own personal use while working as a title agent licensed by the State of Ohio and the owner of Trident Title and Secura Title. In addition, he misrepresented his earned income during bankruptcy proceedings.

Connolly pled guilty to two counts of bank fraud, three counts of wire fraud and one count of bankruptcy fraud. \

Ohioans who suspect insurance fraud or agent misconduct should call the Department’s fraud hotline, 1-800-686-1527. Information is also available on the Department’s website, www.insurance.ohio.gov.