Tennessee Man Pleads Guilty to Mortgage Fraud in Sacramento Area
|U.S. Attorney’s Office October 11, 2012|
SACRAMENTO, CA—Anthony Pierre Williams, 45, of Memphis, Tennessee, pleaded guilty today to mortgage fraud charges, United States Attorney Benjamin B. Wagner announced.
According to court documents, co-defendant Anthony Salcedo compensated Williams and co-defendant Sean McClendon for finding buyers for four properties owned by or associated with Salcedo. Some of the payments by Salcedo went to the buyers of the property, although the payments were never disclosed to the lenders as part of the purchase and sale agreements. In each instance, the buyers’ income and assets were falsified in order to qualify for the loans. All properties involved were foreclosed by the lenders, resulting in losses of more than $1 million.
This case is the product of an investigation by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation. Assistant United States Attorney Jean M. Hobler is prosecuting the case.
The sentencing date for Williams has not yet been set. Williams faces a maximum statutory penalty of 30 years in prison and a $1 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory sentencing factors and the Federal Sentencing Guidelines, which take into account a number of variables.
The charges against McClendon and Salcedo are only allegations, and the individuals are presumed innocent until and unless proven guilty beyond a reasonable doubt.