Shreveport Businessman Sentenced for Submitting False Documents to Mortgage Company
|U.S. Attorney’s Office November 18, 2010|
SHREVEPORT, LA—Randel J. Mason, 57, owner of Mason Construction Company, Inc., was sentenced today in federal court to 30 months in prison, three years of supervised release, and was ordered to pay $757,792.20 in restitution. The sentence is a result of Mason's plea of guilty to two counts of wire fraud for submitting false documentation to his financing company in order to receive draws on his company's line of credit, United States AttorneyStephanie A. Finleyannounced today. The sentence was handed down by 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 in Shreveport, Mason submitted false documentation to National City Mortgage regarding the percentage of work completed, and provided fraudulent inspection certifications claiming that an independent appraiser had verified the work. In fact, Mason used an appraiser's signature without hisknowledge or consent. Relying on the fraudulent documentation, National City Mortgage remitted payments to Mason Construction Company's local bank account.
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.