Georgia Closing Attorney Indicted in Mortgage Fraud Scheme

admin —  March 20, 2007 — 25 Comments

Mary Reagan, closing attorney, 39, Alpharetta, Georgia, was charged in a superseding indictment along with Adriene Newby-Allen, aka Cassandra Miller, 39, Alpharetta, Georgia; Brinson Allen , 38, Alpharetta, Georgia; and James Howard Bailey, III, 35, Houston, Texas, on charges of conspiracy, bank fraud and wire fraud in connection with an alleged mortgage fraud scheme.

A federal grand jury charged Reagan in a superseding indictment, filed March 13, 2007, along with co-defendants Newby-Allen, Allen and Bailey, that alleges that Reagan‘s co-conspirators obtained mortgage financing and home equity loans from federally insured as well as private lenders. The loan values, which ranged in the aggregate from $2.5 up to $3.2 million, were inflated based upon allegedly false credit applications, including false representations regarding borrower income, employment and assets, and inflated appraisal reports. Newby-Allen used her own business, Swiss Acquisitions, Inc., to fund borrower down payments and borrower contributions.

The property addresses named in the indictment are:

11795 King Road, Roswell, Georgia

2300 Blackheath Trace, Alpharetta, Georgia

680 Heards Ferry Road, Atlanta, Georgia (Attempt)

261 Hawks Lake Drive, Ball Ground, Georgia

10890 Bell Road, Duluth, Georgia (Lot)

10890 Bell Road, Duluth, Georgia (Construction Loan) (Attempt)

320 Longvue Court, Duluth, Georgia (Attempts)

Reagan, who operated her own real estate practice and closed several of the loans at issue in the indictment, is alleged to have disbursed millions of dollars in loan proceeds to defendant Newby-Allen. Reagan is alleged to have disbursed loan proceeds inconsistently with the settlement statements she prepared and disclosed to the victim lenders or to have prepared multiple settlement statements – one that was disclosed to the lender to facilitate her alleged fraud scheme and another that was disclosed to the seller to ensure that the seller proceeded to closing and did not blow the whistle. As alleged in the indictment, these fraudulent disbursements amounted to millions of dollars in loan proceeds not going to the sellers of the subject properties, with Reagan allegedly realizing $40,000 in kickbacks.

United States Attorney David E. Nahmias said, “The FBI and other federal investigative agencies continue to aggressively investigate mortgage fraud. Mortgage fraud can be facilitated by closing attorneys who abuse their position of trust to knowingly process fraudulent closing documents. We are focusing attention on real estate professionals, including closing attorneys, who allegedly abuse their fiduciary obligations to mortgage lenders for significant personal profit and the substantial financial gain of their alleged co-conspirators.”

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25 responses to Georgia Closing Attorney Indicted in Mortgage Fraud Scheme

  1. The lawyer actually got $95,000 in 2 kickbacks and prepared double HUD’s.

  2. who do I talk to if i have been a vitim of mortgage Fraud. The broker and a appraisaler inflated my value on my home. Yes I did pull money out but if I Knew what they were doing, i wouldn’t have. I’m now upside dowm on my home.

  3. Bobby,
    You are not a victim of fraud. Just another idiot that cashed out their equity and then wants to blame the people that helped you get the cash.
    Reap it buddy.

  4. Mary Kathryn Reagan realized $120,000 AND other monies from Cassandra Miller. She also defrauded title insurance companies, HomeBanc Mortage, and others. No conscience. No matter how much she states to be a victim she is definitely NOT.

  5. http://www.murrayinthemorning.com/photo_galleries/20040421_cassandra/1.html – 4k -

    Is this the same cassandra miller who is wanted for fraud and embexxlement herer in michigan ?

    PLease advise.

    Hert picture is attached with the above website.

  6. Have they been sentenced yet?

  7. Mary Reagan and the others all pled guilty on July 10 on the eve of the trial. And katherine, Adrian Newby Allen is definately not that hottie Cassandra Miller on the radio website.

  8. They pled but won’t they face sentencing on their guilty pleas? Would like to know.

  9. I was wondering if this is the same Cassandra Miller that is
    being investigated for wire fraud, fraud, and embezzelment,
    in Arizona, California and Michigan.

    They had a camera team out here from American Scams
    that runs on CNBC interviewing some local Detroit celebrities
    that were swindled into giving her monies

  10. Reagan has not been sentenced yet and Bailey has not been convicted of this as stated above. Cassandra Miller-aka-Newby-Allen was the master mind and Reagan not a victim…she was a crook before this schem even got started…

  11. FYI – Brinson Allen being sentenced on Tuesday, October 7th but he violated bond while out committing another fraud. Currently, he is in jail awaiting sentencing.

  12. They should all go down..and get a tuff sentence…hope the judge agrees. But Mr.Bailey has not been convicted.

  13. Kelly,

    Do you know what Brinson Allen did to violate his bond? That was pretty stupid since he was already in trouble.

  14. Brinson Allen, Is not in jail matter of fact he’s arranging his affairs before he’s sentence.Before this incident ever happen he was a hard worker, loyal friend, a descent and honest person to be around.Brinson has always lived an crime free life before marrying adriene newby of two years. This is the first time he has ever been in trouble with the law.I’ve known B.A. since he was a teenager to man-hood.Do not judge him without knowing the true facts about a person character.

  15. Mary Reagan received 4 1/2 years in prison for the crime she committed.

    Cassander Miller real name is Adriene Newby-Allen she was sentenced to 11 years in prison for her crime since she was the ring leader!

    James Bailey,III waiting for a court date!
    I hope Brinson Allen, Received three years for his act in adriene newby crime scheme.

  16. It is sad that they have to spend the holidays in jail but hopefully they will get out and be able to move on with their lives. I do not know them all but I hope so.

  17. Is Adriene Newby-Allen black? Where can I see her mug shot.This lady sure sound like the crook that I was engage to 10 year ago who stole my ring.If it’s her she got what she had coming,and may she rot in the joint.

  18. If you would like to see a picture of the lucky couple inner both of their names on google.com and their wedding picture should come up.

  19. I echo the sentiment of a fellow blogger on Brinson Allen…I’ve known BA/Brent/the Brinster for years…He was caught up in a ring of crime with criminals! Brinson was a wonderful friend a person of standards…always concerned about others, caring and thoughtful with zeal for life. I really hate that this fate has accosted my FRIEND but I do know that with the kind of heart he did have…he will rise again. Brinson…if you ever read this know that you can always count on me.

  20. Mary Reagan was definitely a thief and liar long before she met these people. She can be charming, but is wicked, and a calloused. hate filled, deceitful, accomplished thief and liar. She has certainly stolen a lot from me and my family. Mary Reagan is anything but a victim. The extremely light sentence she has received was likely due to a bunch of lies that she convinced the judge to believe.

  21. I know about this case because I was the loan originator. Adriene Newby-Allen brought me into doing these loans for her. When I found out the deal, like an idiot, I continued to do the loan. I spent 3 1/2 years incarcerated due to this ordeal. I don’t know Brinson but I do know Adriene never really told him what was going on. Mary Reagan had alot to do with this case as well as Adriene. It was wrong and sad.

  22. I also knew and worked with Brinson and he was always a true friend and a great co-worker who would give his all to help everyone. Best of luck to him.

  23. I used to date Brinson and he has always been a nice person but I began to notice that he was becoming very materalistic and that is not a good thing. I truly believe that he got caught up in the bling and never truly knew who he was marrying. I still can not believe that this happended to him. Wishing him the best of luck.

  24. Where is Mary Regan now ??
    Where in jail ??
    Does anyone know when she’ll be released ??

  25. She was, unfortunately, released last May. Very little time for a HUGE crime.

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