Guilty Verdict in Fraudulent Loan Applications Case

Rachel Dollar —  August 12, 2015 — Leave a comment

Erik Hermann Green, 33, Roseville, California was found guilty by a federal jury after a six- day trial of five counts of wire fraud in a mortgage fraud scheme involving fraudulent loan applications.

According to evidence presented at trial, Green was part of a large-scale mortgage fraud scheme to defraud the New Century Mortgage Company by submitting false documentation about employment, income and assets, including fraudulent loan applications and other altered bank documents. Around November of 2006, when Green submitted his fraudulent loan applications to obtain a loan for $820,000, he was a licensed real estate sales person and managed approximately 15 loan officers. As part of the scheme, Green received a check for $100,000 that was funneled through a shell company at the close of escrow. Green used the funds for personal expenses.

On September 19, 2013, co-defendant Stephen Pirt pleaded guilty to wire fraud and is awaiting sentencing on September 24, 2015. Green is scheduled to be sentenced by Judge Nunley on November 19, 2015. Green faces a maximum statutory penalty of 20 years in prison and a $250,000 fine.

The trial was held before United States District Judge Troy L. Nunley.

The case is the product of an investigation by the Internal Revenue Service – Criminal Investigation and the Alameda County District Attorney’s Office. Assistant United States Attorney Michael D. Anderson and Special Assistant United States Attorney Josh F. Sigal are prosecuting the case.

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Rachel Dollar

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