Lauramae Gabbidon, a licensed real estate broker, was arrested by the Gwinnett County Financial Crimes Unit on June 21, 2006 and charged with Mortgage Fraud and Identity Theft.
Gabbidon used identity information belonging to a resident of Sparks, Nevada to purchase a residential property in Gwinnett County, Georgia. Gabbidon sold her own home to this victim’s identity and in the process paid off her mortgages, liens and netted over $11,000.00 in additional profit. The man who impersonated the victim at the real estate closing has not been identified at this time. This investigation is on going and additional arrests are possible.
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.