NC Attorney and Developers Sentenced for Mortgage Fraud


United States Attorney Thomas G. Walker announces that today Senior United States District Judge Malcolm J. Howard sentenced numerous participants in a Wilmington area mortgage fraud scheme to prison. Senior Judge Howard also collectively ordered more than $1 Million in restitution judgments against the defendants. Those sentenced by the Court included a real estate closing attorney, two developers, and another conspirator.

United States Attorney Thomas G. Walker stated, “This is the second time within a month that courts of this district have sent attorneys and other real estate professionals to prison for mortgage fraud. Through these and other prosecutions the message should be absolutely clear. If you commit mortgage fraud, you will face time in prison.”

“Mortgage fraud is an incredibly destructive crime, where borrowers are burdened with bad loans, lenders incur significant losses, and neighborhoods are often destroyed through abandoned homes and rapidly declining property values” said Thomas J. Holloman, III, Special Agent in Charge, IRS Criminal Investigation, “Today’s sentencing of these defendants, delivers the message that we along with our law enforcement partners will not stand by idly while criminals enrich themselves, through victimizing others.”


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