Homebuilder on bail until appeal
One of two Rochester homebuilders, who with their father were accused of running the largest federal mortgage fraud scheme ever prosecuted in the region, was released from prison on bail while he appeals his conviction.The Amicos were convicted in 2003 of conspiring to swindle lenders out of $60 million on 169 homes in Monroe, Ontario and Wayne counties from 1994 to 2000.

Business First of Buffalo     
Homebuilder on bail until appeal
by Thomas Hartley
Business First

One of two Rochester homebuilders, who with their father were accused of running the largest federal mortgage fraud scheme ever prosecuted in the region, was released from prison on bail while he appeals his conviction.

Richard Amico, 35, has been serving a nine-year prison term.

His brother, Robert Amico, 44, who is serving 17 and-a-half years, was denied bail.

Both decisions were handed down Sept. 21 by U.S. District Judge David Larimer in Rochester.

The Amicos were convicted in 2003 of conspiring to swindle lenders out of $60 million on 169 homes in Monroe, Ontario and Wayne counties from 1994 to 2000.

Charges against their father, Robert A. Amico, were postponed and he died in 2003 before coming to trial.

Buffalo-based M&T Bank was one of the Amicos' victims. In January, 2000, M&T seized more than $375,000 which the younger Robert Amico later told the court he needed to pay his bills.
http://www.bizjournals.com/buffalo/stories/2006/09/18/daily52.html