Former top producer Christopher J. Gallo has pleaded guilty to a federal fraud charge for allegedly falsifying loan documents during the recent market heyday. Processing ContentGallo pleaded guilty to a single count of conspiracy to commit bank fraud in a hearing before a New Jersey federal judge Wednesday. By pleading guilty, federal prosecutors have agreed to drop 17 additional counts of bank fraud, false statements to a financial institution and aggravated identity theft, according to his plea agreement. HousingWire first reported the guilty plea. Gallo had opposed the lender's arbitration request, and his attorney previously criticized CrossCountry's 18-month wait to pursue its clawback claims.