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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Three Ditech Managers Will Waive Extradition

May 09, 2000|Robin Fields

Three top managers at Costa Mesa mortgage lender Ditech.com Inc. on Monday waived their rights to extradition hearings, agreeing to travel cross-country to face extortion charges, federal prosecutors said.

Gregory Kenneth DeLong, 41, and Vincent Pozzuoli, 36, both of Newport Beach, and Jay David Marx, 36, of San Juan Capistrano are scheduled to appear in U.S. District Court in Pittsburgh on May 31.

According to a grand jury indictment, the three managers were involved in a plot to extort kickbacks from a Pittsburgh real estate services firm. The indictment accuses the three men of threatening to stop using ATM Corp. of America unless the firm agreed to pay them and to put Marx's father-in-law on its payroll as a "ghost employee."

Attorneys for DeLong and Pozzuoli did not return calls Monday. Marx could not be reached.

Ditech's founder and chief executive, J. Paul Reddam, resigned abruptly May 1 amid the federal investigation, which is ongoing. Reddam has not been charged with any wrongdoing.

GMAC Residential Holdings, a unit of General Motors Corp. that bought Ditech last year, has sent executives from its East Coast headquarters to run the 5-year-old company temporarily.

DeLong oversaw escrow services and Marx was the company's operations manager. Pozzuoli was listed in Ditech's 1998 financial statement as vice president of loan originations.

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