Mardell McGee Smith, aka Patrick McGee, 35, Florissant, Missouri was sentenced to one year and one day in prison and ordered to pay $230,481 in restitution after pleading guilty last year to one felony count of making false statements on HUD applications and one felony count of misusing a Social Security number. Mario McGee, 32, formerly of St. Louis, (brother of Mardell McGee Smith) was sentenced to six months in prison and ordered to pay $140,508 in restitution. Jimmy Sexton, St. Louis, Maurice McIntosh, Florissant, and LaWanda Knox, St. Louis previously pled guilty and were sentenced.
Smith owned and operated New Alliance Enterprises Inc., which bought and sold homes in the St. Louis, Missouri area. Homes were purchased and sold at fraudulently inflated prices. He encouraged buyers to use EINs rather than SSNs to disguise bad credit and provided downpayment funds to buyers.
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.