Loan Officer Pleads Guilty to Defrauding Lender

Allison Tussey —  July 31, 2014 — 1 Comment

Paulynn Wright, 42, Knoxville, Tennessee, pleaded guilty on July 29, 2014, in U.S. District Court for the Eastern District of Tennessee at Knoxville, to conspiracy to commit wire fraud. Wright admitted conspiring to obtain a mortgage loan by providing false information to a lender.

Sentencing has been set for 2:00 p.m., on Dec. 3, 2014, before the Honorable Thomas A. Varlan, Chief U.S. District Judge.

Wright faces a potential term of up to 20 years in prison, along with the forfeiture of any proceeds of the offense and the obligation to pay restitution.

In a plea agreement on file with the U.S. District Court, Wright admitted to conspiring with co-defendants Joyce Allen, Kay Thomas and Dona Rector to obtain a mortgage loan by providing false information to a lender. This information consisted of an asset verification letter from Allen that falsely stated that Wright had an investment with Benchmark Capital.

The indictment against Wright was the result of an investigation by the Internal Revenue Service, U.S. Postal Inspection Service, and Federal Bureau of Investigation. Assistant United States Attorney Frank M. Dale, Jr. represents the United States.

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Allison Tussey

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One response to Loan Officer Pleads Guilty to Defrauding Lender

  1. Bbbbut judge, everybody does it!! That’s how real estate works!!!

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