4 Charged with Recruiting College Students and Military Personnel to Apply for False Loans

Allison Tussey —  October 15, 2009 — Leave a comment

Allen J. Gingrich, 29, Atlanta, Georgia; Stephen Mark Lecorgne, 29, Palm Beach Gardens, Florida; Brian Ernest Oelbermann, 28, West Palm Beach, Florida; and Donte Deshaun White a/k/a Donte Cox, 30, Atlanta, Georgia, have been charged for an alleged scam between April 2006 and April 2007, involving the recruitment of college students and military personnel to make false statements on mortgage loan applications and creating false documents supporting those applications to obtain more than $1.7 million in mortgages for five real estate transactions.

According to the indictment, Gingrich and Cox were the principals of Focus International Equity Partners, LLC, which they touted as a real estate investment and management company. The company was run out of a townhouse in Atlanta, Georgia. Gingrich and Cox solicited college students and young soldiers through Focus International, in the Atlanta area, to obtain mortgage loans on various properties, many of which were in South Florida. The information submitted on the loan applications was false. Gingrich and Cox used Warshaw Capital, LLC, a mortgage brokerage firm in Palm Beach County, to facilitate obtaining all of the fraudulent loans because Brian Olberman and Steven Marks LeCorgne, two of the loan originators at Warshaw Capital, agreed to participate in the scheme.

Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, Michael K. Fithen, Special Agent in Charge, U.S.Secret Service, and J. Thomas Cardwell, Commissioner, State of Florida’s Office of Financial Regulations, announced fraud charges.

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Allison Tussey

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