$6 Million Mortgage Fraud - I
December 23, 2009
In 2006 the FBI’s Baltimore office was notified by the Maryland Department of Labor about some unusual money transactions in mortgage deals...
Mr. Schiff: In 2006 the FBI’s Baltimore office was notified by the Maryland Department of Labor about some unusual money transactions in mortgage deals. Special Agent Jennifer Perry investigated and found clients, who became victims, were offered a mortgage reversal program.
Ms. Perry: "That was a program for homeowners who were in a bad way financially or had gotten into just a difficult position who were looking to refinance.”
Mr. Schiff: The finance people promised to help make mortgage payments for a year and then turn the homeowner’s house back to them. But that didn’t happen.
Ms. Perry: "The company, its directors, its officers were using this equity for their own benefit.”
Mr. Schiff: The scammers took the money and Perry says they lived lavishly.
Ms. Perry: "Trips, homes, luxury clothing, furniture, etc.”
Mr. Schiff: Perry says 14 or 15 boxes of evidence were checked, and eventually t wo main subjects were sentenced to more than 12 and more than 11 years in prison for wire fraud, conspiracy, and money laundering. I’m Neal Schiff of the Bureau, and that’s the FBI’s Closed Case of the Week.
- 03.16.2018 — FBI, This Week: Women’s History Month
- 03.08.2018 — FBI, This Week: W-2 Phishing Scams Increase During Tax Season
- 03.01.2018 — FBI, This Week: Rapid DNA Analysis Initiative
- 02.23.2018 — FBI, This Week: Global Sweep Addresses Growing Elder Fraud Threat
- 02.15.2018 — FBI, This Week: Restoring the Identities of Unknown Human Remains