Man gets jail time for mortgage fraud scheme
by Associated Press
Published: March 30,2011
Tags: appraisals, courts, fraud, homes, housing, mortgage fraud, real estate
BRANDON — A federal judge has sentenced a Brandon man to 33 months in prison for his role in a mortgage fraud scheme.
Shane Rothery pleaded guilty in October to mail fraud. Prosecutors say Rothery fabricated information on residential appraisals and inflated the property values so he and his accomplices could pocket the excess proceeds.
[ITAL]The Clarion-Ledger[ITAL] reports that U.S. Attorney John Dowdy Jr. told the court Tuesday that the loss amount attributable to the scheme, involving seven different properties and spanning less than one year, was $907,837.
Prosecutors say Rothery was not a licensed appraiser but made false documents based on his father’s license.
Source: The Clarion-Ledger
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