Jeffrey Hopkins, 49, a real estate lawyer from Charlotte, North Carolina, plead guilty in federal court Monday to two counts of conspiracy, two counts of mail fraud and two counts of conspiring to launder money in connection with mortgage fraud schemes that resulted in lender losses of approximately $3.5 million. As part of his plea bargain, Hopkins will surrender his license to practice law. He faces approximately six years in prison.
Hopkins is accused of working with others to recruit individuals to apply for mortgage loans by promising they would assist the borrowers in renting the homes and later selling them for a profit. The borrowers did not know that the co-conspirators had obtained inflated appraisals. The co-conspirators would arrange for the loans to be approved based upon falsified income, employment and occupancy. As closing attorney, Hopkins prepared settlement statements reflecting down payments that he knew were not made.