Mortage Broker, Loan Processors and Straw Buyer Plead Guilty

Allison Tussey —  August 18, 2010 — 1 Comment

John Fisher, 35, Jupiter, Florida, pled guilty in federal court to one count of conspiracy to commit mail and wire fraud and to one count of substantive mail fraud. Also pleading guilty were defendants Tracey Balli, 35, Pembroke Pines, Florida, Justina Bryan, 35, Hollywood, Florida, and Delano McLennon, 33, North Lauderdale, Florida. These defendants pled guilty to one count of making false statements on a HUD-1 Real Estate Settlement Form in connection with a mortgage fraud scheme. Sentencing has been scheduled for November 19, 2010 before U.S. District Judge Ursula Ungaro.

According to records filed with the court and statements made during the plea hearing, the defendants and other conspirators engaged in a scheme to enrich themselves by fraudulently causing real property in Fort Lauderdale, Jupiter, Cape Coral, and Royal Palm Beach, Florida, to be bought and sold through straw buyers who obtained high value mortgages based upon fraudulent mortgage loan applications. A co-conspirator orchestrated the scheme, in which defendant John Fisher, a licensed mortgage broker, Tracey Balli and Justina Bryan, both loan processors, joined. Balli and Bryan, along with other conspirators, recruited straw buyers, including Delano McLennon, to join the scheme.

In order to obtain mortgages on these properties, the defendants and other co-conspirators submitted and caused to be submitted fraudulent documents to various mortgage lenders across the United States. Based on these false documents, the mortgage lenders issued approximately $2,500,000 in loans to the defendants and their co-conspirators.

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, and J. Thomas Cardwell, Commissioner, State of Florida Office of Financial Regulation, announced the guilty pleas.

Mr. Ferrer commended the investigative efforts of the U.S. Postal Inspection Service, the FBI, and the State of Florida Office of Financial Regulation. This case is being prosecuted by Assistant U.S. Attorneys Randy D. Katz and Jeffrey H. Kay.

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Allison Tussey

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One response to Mortage Broker, Loan Processors and Straw Buyer Plead Guilty

  1. 13.Somebody please take a look at this:
    A RICO action has also been filed against a prominent lawyer in St. Tammany Parish Louisiana following are links to the whole scheme that was unfolded.

    PROMINENT LAWYER IN ST. TAMMANY PARISH, Louisiana NAMED IN RACKETEERING LAWSUIT
    Posted on August 12, 2010 by quitclaimmagee

    Featured Videos
    Aug 10, 2010
    Family says land was stolen from under them

    The Martins say their home in Abita Springs is everything they’ve wanted. Trouble is, when they had some financial troubles and were forced to try to sell it, they discovered they probably don’t own the lot where the house sits
    wwltv.com/news/4investigates/Family-says-land-stolen-from-under-them-100406154.html

    http://www.quitclaimmagee.wordpress.com

    LINK TO SUMMARY OF ALL QUITCLAIMS (WHERE THERE WAS NO EVIDENCE OF THE VENDOR OR THE SELLER HAVING ANY ACQUISITIONS IN THE CHAIN OF TITLE (STRAW SELLERS) FILED
    quitclaimmagee.files.wordpress.com/2010/08/summary_of_quit_claims.pdf

    LINK TO THE RICO CLAIM THAT WAS FILED (ADDED) IN FEDERAL COURT

    quitclaimmagee.files.wordpress.com/2010/08/magee_rico_suit.pdf

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