Charmaine Davis, 54, Waterbury, Connecticut, a mortgage broker, admitted her role in obtaining more than $1 million in fraudulent mortgages for properties in New Haven, Connecticut,
The defendant pleaded guilty before U.S. District Judge Janet C. Hall in Bridgeport federal court to an information charging her with one count of making a false statement on a loan application.
According to court documents filed in this case and related cases and statements made in court:
Davis owned and operated Optimum Mortgage, New Haven. From November 2006 to April 2007, she submitted loan applications to lenders that falsely stated the borrower’s intention to reside in the subject property, failed to disclose a complete listing of the borrower’s assets and liabilities, including other residential mortgages that Davis brokered for the same borrower. Davis admitted that on two occasions she used her own money to make the down payment on behalf of the borrower.
The count to which Davis pleaded guilty is punishable by a maximum potential penalty of 30 years in prison and a fine of $1.2 million. As part of her plea agreement, Davis agreed to pay at least $605,300 in restitution. Judge Hall has scheduled sentencing for Sept. 6, 2013.
This case is being investigated by the FBI, the U.S. Postal Inspection Service, the U.S. Department of Housing and Urban Development – Office of Inspector General, and the Federal Housing Finance Agency – Office of Inspector General.
The criminal case is being prosecuted by Assistant U.S. Attorney David T. Huang and Special Assistant U.S. Attorney John McReynolds; the parallel civil forfeiture cases are being handled by Assistant U.S. Attorney Julie G. Turbert.
U.S. Attorney Paul J. Fishman, District of New Jersey, announced the guilty plea.
The U.S. Attorney for the District of New Jersey has been handling the case because of the recusal of the U.S. Attorney’s Office for the District of Connecticut.