Home » NEWS » Ex-mortgage broker gets jail time for fraud

Ex-mortgage broker gets jail time for fraud

RIDGELAND — Former Ridgeland mortgage broker Mark Calhoun has been sentenced to 16 years and eight months in prison for mortgage fraud in a scheme that involved more than $10 million in fraudulent loans.

Yesterday, U.S. District Judge Dan Jordan also sentenced Calhoun’s associates, J. Larry Kennedy, and son Keith Kennedy, who operated a mortgage loan closings business. They were convicted by a jury along with Calhoun. The elder Kennedy must serve five years in prison and the younger Kennedy, six years.

The Clarion-Ledger reports Calhoun and the elder Kennedy must report to prison Aug. 1.

Prosecutors say Calhoun prepared fictitious documents to ensure lenders would make loans to prospective borrowers. In some cases, they say inflated values were placed on homes, and Calhoun and others received the benefits.

Source: The Clarion-Ledger


… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

One comment

Leave a Reply