Former Davenport Mortgage Broker Arrested for Mortgage Fraud
|U.S. Attorney’s Office November 22, 2010|
DAVENPORT, IOWA—On November 22, 2010, following her arrest by agents of the Federal Bureau of Investigation, Winnifer Elvidge, age 56, of LeClaire, Iowa, appeared in United States District Court to answer an indictment charging three counts of mail fraud, four counts of bank fraud, 15 counts of wire fraud, and one count of conspiracy. The indictment alleges that Elvidge, a former mortgage broker, participated in a scheme to defraud banks and mortgage lenders during 2005 and 2006 in connection with the purchase of over 20 real properties in Davenport.
Chief United States Magistrate Judge Thomas J. Shields ordered Elvidge released on bond pending arraignment on November 30, 2010.
Each count of wire fraud and mail fraud is punishable by up to 20 years of imprisonment, a fine of up to $250,000, up to three years of supervised release, and a $100 special assessment to the Crime Victim’s Fund. Each count of bank fraud is punishable by up to 30 years of imprisonment, a fine of up to $1,000,000, up to five years of supervised release, and a $100 special assessment. The single count of conspiracy is punishable by up to five years of imprisonment, a fine of up to $250,000, up to three years of supervised release, and a $100 special assessment.
As in any criminal case, a charge is merely an accusation, and a defendant is presumed innocent unless and until proven guilty.