Federal Mortgage Fraud Charges Filed Against Two Las Vegas Men
|U.S. Attorney’s Office December 10, 2009|
LAS VEGAS—Two Las Vegas men have been charged with conspiracy and fraud charges for devising and implementing a mortgage fraud scheme involving straw buyers and falsified mortgage loan documents, announced Daniel G. Bogden, United States Attorney for the District of Nevada.
Tarl Brandon, 43, and Calvin A. Gribble, 50, were indicted by the Federal Grand Jury on December 1, 2009, and charged with one count of Conspiracy to Commit Mail Fraud, Wire Fraud, and Bank Fraud. Gribble was arrested and appeared on Monday, December 7, 2009, before U.S. Magistrate Judge Lawrence R. Leavitt, and was released pending trial. Brandon surrendered to authorities this morning, and is scheduled for an initial appearance and arraignment at 3:00 p.m.
The Indictment alleges that from about June 2004 to January 31, 2005, Brandon, managing member of KTB Construction Company, LLC, and Gribble, owner of C. A. Gribble and Associates, a mortgage broker, solicited and paid persons to act as straw buyers to apply for mortgage loans to purchase real estate in Las Vegas. In most instances, Brandon and Gribble had the straw buyers apply for mortgages for more than one house at a time and concealed from the lenders that they were purchasing more than one property. To induce the lenders to fund the loans, Brandon and Gribble caused the loan applications and supporting documentation to include false and fraudulent information concerning the straw buyers’ income, assets, employment, and intent to occupy the home. Once the financial institutions funded the loans, the escrow companies made disbursements to Brandon’s shell company, KTB Construction and paid commissions and fees to Gribble.
The Indictment specifically discusses two fraudulent transactions involving the purchase of two homes in the fall of 2004 by a straw buyer - one at 2317 Cameridge Elms Street, in North Las Vegas, and the other at 8682 Belinda Court in Henderson. Once the loans were approved, Brandon and Gribble caused the financial institutions to wire monies from New York to a local lender in Las Vegas to fund the loans, and caused the title company to fraudulently pay KTB Construction $105,000 for these transactions. Brandon and Gribble then paid the straw buyer $14,000 for applying for the mortgages. Gribble made a mortgage payment on the properties to conceal the fraud from immediate scrutiny.
If convicted, the defendants face up to 30 years in prison and a $1,000,000 fine.
This investigation is being led by and the FBI, and other agencies of the Southern Nevada Mortgage Fraud Task Force, including IRS Criminal Investigation, the U.S. Postal Inspection Service, Office of the Inspector General for the Department of Housing and Urban Development, the U.S. Secret Service, the Las Vegas Metropolitan Police Department, the Nevada Attorney General’s Office, and Office of the Inspector General for the Social Security Administration. The case is being prosecuted by Assistant United States Attorney Brian Pugh.
Persons who have information concerning potential mortgage fraud may contact the Southern Nevada Mortgage Fraud Hotline at (702) 584-5555.
The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.