Recently, a sentence was issued in a mortgage fraud case from Colorado. The case involved a 32-year-old woman from Denver. The woman was accused of having engaged in a mortgage fraud scheme.
The scheme allegedly involved several properties in Denver. According to authorities, in connection to transactions involving these properties, the woman made false representations when applying for mortgage loans and took efforts to get the sale prices in the transactions falsely inflated.
The woman was charged with mail and wire fraud in connection to these mortgage fraud allegations. Last December, the jury in this case reached its verdict. The jury found the woman guilty.
Recently, the woman was given her sentence in this case. She received a prison sentence of five years. She has also been ordered to make a large restitution payment.
This case illustrates a couple of points that are worth noting. First, it shows how serious criminal charges can be brought against an individual if he or she is accused of having engaged in a mortgage fraud scheme. Second, it shows how a person can be given significant criminal punishments if he or she is convicted of mortgage fraud-related charges.
Thus, being accused of committing mortgage fraud can lead to a person facing serious consequences. Consequently, if an individual is accused of having been involved in a mortgage fraud scheme, he or she may wish to consider seeking advice from a defense attorney.
Source: The Denver Post, “Denver woman convicted of mortgage fraud sentenced to five years,” Howard Pankratz, Oct. 5, 2012