Loan Officer Admits Lying to Obtain HELOC

Allison Tussey —  December 5, 2012 — Leave a comment

Scott S. Schuhriemen, 38, Sarasota, Florida, pleaded guilty to conspiring to make false statements to Branch Banking and Trust (BB&T), an FDIC insured financial institution. Schuhriemen faces a maximum penalty of 5 years in federal prison. Schuhriemen was charged via criminal information on November 13, 2012.

According to the plea agreement, from 2006 to mid-2007, Schuhriemen conspired with other individuals, including R. Craig Adams and Richard Bobka, to knowingly make false statements on mortgage-related documents submitted to BB&T in order to obtain home equity line of credit (“HELOC”) loans on real property located in the Sarasota area. At the time, Schuhriemen served as a loan officer for BB&T and arranged loans for co-conspirators. On two occasions, in 2006, Schuhriemen falsely notarized mortgage documents for borrowers related to R. Craig Adams.

Fourteen other defendants, including R. Craig Adams, were sentenced in October 2012 for their roles in a large-scale, Sarasota-area mortgage fraud scheme that spanned over ten years and involved tens of millions of dollars in fraudulent loans. To date, the investigation has yielded convictions of at least nineteen individuals for conspiracy and/or mortgage fraud, including four other former bank loan officers.

United States Attorney Robert E. O’Neill announced the guilty plea.

This case was investigated by the Federal Bureau of Investigation, the FDIC’s Office of Inspector General, and the Sarasota County Sheriff’s Office. It was prosecuted by Assistant United States Attorneys Cherie Krigsman and Christopher Tuite.

Be Sociable, Share!

Allison Tussey

Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

*