The following defendants were named in a thirteen count indictment handed down in Chicago, Illinois in connection with allegations that they engaged in a mortgage fraud scheme that involved approximately $6.2 million in loans. The indictment alleges mail fraud, wire fraud and making false statements in connection with loan and credit applications:

Shaun Cross, did business as Crosswell Financial and bought and sold residential properties and acted as a real estate broker. Cross is also alleged to have owned Title First, a company that held itself out as a title company and escrow agent.

Evelyn Allen, operated Dreamkeepers, Glenwood Illinois, a loan processing business

Latonya Allen, operated Dreamkeepers, Glenwood Illinois, a loan processing business

Jennifer Richardson, a loan processor for Hamilton Financial, Oak Brook, Illinois.

Azureeiah O’Connor, a loan officer for Express Mortgage and Home First Mortgage, Chicago, Illinois.

Erica Davis Wells, referred loan applicants to Cross;

Stephanie Scott, referred loan applicants to Cross;

Lynelle Wells, employee of TCF Bank, Chicago with authority to open accounts and to verify deposits and bank statements.

Monique Hobson, owned a company named MDH Enterprises and verified employment for one of Cross’ loan applicants.

From September 2000 through November 2002, according to the indictment, the defendants obtained over $6.2 million in mortgage loan proceeds in connection with approximately 35 loans by submitting false and fraudulent loan applications and inflated appraisals on behalf of straw buyers.

The indictment alleges:

Cross would paid money to loan officers and processors at mortgage brokerage companies for finding lenders to fund loans and would arrange to act as broker for the sale of certain residential properties, including foreclosed properties. Cross and Evelyn Allen would identify residential properties being offered for sale by HUD and arrange to purchase the properties for cash. Cross, Erica Davis Wells, Scott and other’s would arrange for the purchase or properties using straw buyers.

Cross, Hobson, Lynelle Wells and others would prepare and cause to be prepared fraudulent documentation to be provided to the lenders including false loan applications, false and inflated appraisals, false verifications of employment, false verifications of rent, fraudulent verifications of deposit and false and fraudulent earnest money checks.

Evelyn Allen, Latonya Allen, O’Connor and Richardson, all employed or acting as loan officers/processors, would knowingly secure funding for completed fraudulent loan packages in exchange for money. Contrary to the representations contained in certain loan application packages, Evelyn Allen, Latonya Allen, O’Connor and Richardson had not met personally with the loan applicants and knew the applicants were not the real parties interested in purchasing the properties and did not intend to pay the mortgages on the properties.

Erica Davis Wells, Hobson and others falsely verified employment and rent information on behalf of loan applicants, knowing the information to be false.

Cross would arrange for Title First to be used as closing and escrow agent, knowing that Title First was not a legitimate title company and would not take steps to property distribute loan proceeds or secure the interest of the lender.

Between September 2000 through November 2002, according to the indictment, the defendants fraudulently obtained approximately 35 loans totaling approximately $6.2 million and caused lender losses of approximately $4.3 million related to approximately 13 properties.

Properties referenced in the indictment include:

2010 S. 4th Avenue, Maywood, Illinois

1640 S. Trumbull, Chicago, Illinois

4324 S. St. Lawrence, Chicago, Illinois

5029 Harbor Lane, Richton Park, Illinois

2111 S. Central Park, Chicago, Illinois

6048 White Birch Lane, Matteson, Illinois

4324 S. St. Lawrence, Chicago, Illinois

4721 W. Superior, Chicago, Illinois

4829 S. Champlain, Chicago, Illinois