Identity Thief Pleads Guilty to Mortgage Fraud

admin —  November 20, 2009 — Leave a comment

Randal Antoine, 36, Columbia, South Carolina, pled guilty to wire fraud and illegally using a Social Security number in connection with a mortgage fraud scheme.

As previously reported on Mortgage Fraud Blog, Antoine devised a scheme to defraud AmeriDream, Inc., a company that provided down payment assistance to first-time home buyers. The scheme involved Antoine posing as a mortgage loan originator, applying to Ameridream for funds on behalf of his purported clients. In some cases, Antoine used stolen identities and Social Security numbers of midlands residents to apply for the funding. Between February and September 2008, he falsely represented to Ameridream that 38 different loan closings would be taking place, causing AmeriDream to transfer approximately $328,000.00 to Antoine.

Antoine will be sentenced on March 18, 2010. He faces a maximum possible sentence of 30 years in federal prison and a fine of $500,000.00.

United States District Judge Cameron McGowan Currie accepted the guilty plea, which occurred just as jury selection was to begin.

The case was investigated by the United States Secret Service. Assistant United States Attorney Nathan S. Williams of the Columbia office is handling the case.



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