Former Countrywide and NCB Loan Officer Sentenced to Federal Prison for His Participation in Large-Scale Mortgage Fraud Scheme
|U.S. Attorney’s Office December 13, 2012|
TAMPA—U.S. District Judge Virginia Covington today sentenced former loan officer Mark W. Leetzow (44, Sarasota) to one year and one day in federal prison for his role in a mortgage fraud conspiracy that victimized numerous mortgage lenders and FDIC-insured banks. As part of his sentence, Leetzow was also ordered to pay $3,339,590.28 in restitution and serve a five-year term of supervised release upon the completion of his prison term. Leetzow previously pleaded guilty to conspiring to commit wire fraud and to making false statements to federally insured banks for the purpose of influencing those banks in connection with mortgage loans.
According to court records, between 2005 and 2007, Leetzow served as a loan officer at Countrywide Home Loans Inc. (CHL) and National City Bank (NCB). In that capacity, he conspired with a number of others in a scheme that centered around the fraudulent acquisition and sale of residential properties in the Sarasota area. Leetzow assisted other conspirators in submitting false loan documents to CHL and NCB for the purpose of securing mortgages on residential homes.
The conspirators with whom Leetzow was associated included Richard J. Bobka and R. Craig Adams. Bobka and Adams were recently sentenced for their roles in the conspiracy. Bobka was sentenced to 15 years in federal prison, and Adams was sentenced to three years in federal prison. The false statements made by Leetzow, Adams, Bobka, and their conspirators, and the material matters which they concealed from CHL and NCB, included the actual income and assets of the borrowers who were applying for the mortgage loans in question.
This case was investigated by the Federal Bureau of Investigation, the FDIC’s Office of Inspector General, and the Sarasota County Sheriff’s Office. It was prosecuted by Assistant United States Attorneys Christopher P. Tuite and Cherie L. Krigsman.