WHITE PLAINS, NY (WCBS 880) – Former North Castle Republican chairwoman Loronda Murphy has been indicted for mortgage fraud.

WCBS 880’s Catherine Cioffi With The Story

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Westchester County District Attorney Janet DiFiore says Murphy, along with her business partner Scott Forcino, ran a mortage closing company called Settle One Corporation that was actually a home mortage fraud Ponzi scheme.

Instead of paying off a homeowner’s old mortgage with a new mortage, the DA’s office said the victims were left with multiple mortages for one home.

Among the alleged victims was Murphy’s father.

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Murphy faces a total of 19 counts and Forcino faces three.

Bail for Murphy has been set at $100,000 bond. Bail for Forcino was set at $5,000 cash.

Their next court appearance will be on Sept. 15.

Murphy faces a maximum of five to 25 years in state prison on the top count.

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Forcino faces a maximum of 15 months to four years in state prison on the top count.