Shreveport Businessman Pleads Guilty to Submitting False Documents to Mortgage Company

SHREVEPORT, LA—Randel J. Mason, 57, owner of Mason Construction Company, Inc., and Tammy H. Dixon, 49, both of Shreveport, pleaded guilty in federal court to two counts of wire fraud for submitting false documentation to its financing company in order to receive draws on its line of credit, United States Attorney Stephanie A. Finley announced today. The guilty pleas were entered Wednesday before U.S. District Judge Donald E. Walter in Shreveport.

According to court testimony, Mason Construction obtained financing for new home construction from National City Mortgage, an Ohio-based financing company. While purporting to build new homes on Plum Creek Drive and Pelican Creek Drive in Shreveport, Mason and Dixon submitted false documentation to National City Mortgage regarding the percentage of work completed, and fraudulent inspection certifications claiming that an independent appraiser had verified the work. In fact, Mason and Dixon used an appraiser’s signature without his prior knowledge and consent. Relying upon the fraudulent documentation, National City Mortgage remitted payments to Mason Construction Company’s local bank account.

Sentencing is scheduled for September 28, 2010. Mason and Dixon face a maximum sentence of 20 years in prison, a $250,000 fine, or both, for each count of wire fraud.

The case was investigated by the Federal Bureau of Investigation, Shreveport Resident Agency, and is being prosecuted by Assistant United States Attorney Cytheria D. Jernigan.