Missouri Man Indicted for $3.6 Million Mortgage Fraud

admin —  July 17, 2009 — 1 Comment

Quentin Henley, 36, Kansas City, Missouri, was charged in a seven-count indictment returned by a federal grand jury in Kansas City for his role in a mortgage fraud conspiracy that involved loans on 34 properties totaling more than $3.6 million.

Henley did business as Quality Remodeling, as All and One Construction and as Corporate Remodeling Associates. According to today’s indictment, from July 2003 to January 2009, Henley acquired residential properties for the stated purpose of rehabbing the properties, then renting or selling them.

Henley and unnamed co-conspirators allegedly submitted materially false, fraudulent and misleading loan applications and supporting documentation to mortgage lenders, all to induce the lenders to approve the applications and lend funds.

In each case, the indictment says, Henley received money from the proceeds of the loans. In some instances, Henley bought or sold the property himself or refinanced mortgages. In other instances, Henley falsely represented that his company had remodeled the properties and was entitled to payment from the proceeds of the loan; in reality, the indictment says, Henley did little or no work to rehab some of the properties.

Henley allegedly caused mortgage lenders to make loans regarding at least 34 properties in the amount of at least $3,600,482.

In addition to the mortgage fraud conspiracy, today’s indictment charges Henley with three counts of interstate transportation of money obtained by fraud and three counts of money laundering.

Matt J. Whitworth, Acting United States Attorney for the Western District of Missouri announced the indictment.  Whitworth cautioned that the charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

This case is being prosecuted by Assistant U.S. Attorney Linda Parker Marshall. It was investigated by IRS-Criminal Investigation and the Federal Bureau of Investigation.

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One response to Missouri Man Indicted for $3.6 Million Mortgage Fraud

  1. The current market scenario has brought everyone on his toes. One should be careful before investing in real estate. Do confirm prices by other builders/other sources.

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