LO Jailed for Submitting Fraudulent Loan Application

Allison Tussey —  June 30, 2014 — Leave a comment

Gari-Mark Thomas, 38, formerly of Norwalk, Connecticut, was sentenced by U.S. District Judge Vanessa L. Bryant to 12 months and one day of imprisonment, followed by three years of supervised release, for conspiring to defraud the Federal Housing Authority through a mortgage fraud scheme.

Thomas pleaded guilty to the charge on February 4, 2014.

According to court documents and statements made in court, in March 2008, Thomas, while serving as a loan officer for Suntrust Mortgage, assisted his girlfriend in obtaining a residential real estate loan to purchase a property at 510 E. Main Street, Stratford, Connecticut, by submitting fraudulent information to the lender and the Federal Housing Authority (FHA). The fraudulent information included a false claim that his girlfriend was employed with a tax and accounting company, false paystubs, false IRS tax forms and phony bank statements to make it appear that she had a bank account with assets in it, when in fact she had no such assets.

Based on the fraudulent loan documentation, the loan was issued by the lender and insured by the FHA. Thomas’ girlfriend ultimately defaulted on the loan, causing a loss of $184,538.37 to the FHA.

Judge Bryant ordered Thomas to pay full restitution.

Deirdre M. Daly, United States Attorney for the District of Connecticut, announced the sentence.

This matter was investigated by the U.S. Department of Housing and Urban Development, Office of Inspector General, and the Federal Bureau of Investigation. The case was prosecuted by the U.S. Attorney’s Office Financial Fraud and Public Corruption Unit.

 

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Allison Tussey

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