7 People Charged in Wichita Mortgage Fraud

Federal charges were brought on May 2, 2013 against seven people in Wichita who were involved in alleged mortgage fraud. In a grand jury indictment, the group was charged with conspiracy, wire fraud, bank fraud, money laundering, and making false statements to HUD. The scheme apparently involved the use of straw buyers and sellers as well as the submission of false loan applications and supporting documentation. Several federal institutions were subjected to the fraud, including the FHA, FDIC, and the federal home loan agencies called Fannie Mae and Freddie Mac. In the indictment, the conspirators were accused of defrauding lenders of more than $221,000 which were losses resulting from falsely obtained loans.

The leader of the group is a former real estate agent whose license was suspended while he conducted the scheme in which he falsely served as an active agent for both buyers and sellers. The man was on probation at the time of his actions due to a former federal conviction. The straw buyers were not qualified to purchase the homes but did so through fraudulent paperwork. False information was provided, such as phony employment verifications and statements of rent as well as statements that the homes would be the primary residences of the straw buyers, which they were not.

Criminal Defense in Olathe, Kansas

White collar crimes, such as the above-mentioned mortgage fraud, have become increasingly reported in local and national news media. Both state and federal prosecutors aggressively pursue such cases to help deter future attempts at various types of fraud. Bank fraud, wire fraud, credit card fraud, insurance fraud, embezzlement, identity theft, Social Security fraud and investment scams are just a few of the many varieties of fraud and theft that can be investigated and charged.

Individuals accused of fraud will need a competent and dedicated legal representative to help them obtain the best possible outcome in either a state or federal court. The criminal defense law firm of Garretson, Webb & Toth, LLC is comprised of former prosecutors who have a thorough working knowledge of both sides of any criminal case. These attorneys have proven trial experience that has resulted in tough litigation skills. If you have been accused of any criminal offense, whether a white collar crime, drug crime, DUI, domestic violence, sex crime, federal crime, or other offense, you can learn what your defense options may be by contacting the firm for a free consultation.