Stephanie Woods plead guilty to one count of conspiracy to launder money and five counts of willful failure to file an income tax return (1999 through 2003) in connection with her alleged role in a $1.8 Million Mortgage Fraud that operated in the Dayton, Ohio area between 2003 and 2005.

According to the information, between September 23, 2003 and April 19, 2005, Woods was engaged in the business of buying, selling, renting and investing in real estate in and around the Dayton, Ohio area. She owned, operated and managed Woods Insurance Agency, Inc., Woods Rental and Investment Properties and VW Home Improvement. During the time period of the alleged conspiracy, Jocelyn L. Hammond was the owner of All City Title Agency, Inc, 7087 Corporate Way, Centerville, Ohio. (Click here to view the Mortgage Fraud Blog article on Jocelyn Hammond's indictment.)

According to the information, Woods and her coconspirators prepared and submitted mortgage loan applications to various lenders that contained false, fictitious and fraudulent statements in various documents including: loan applications, agreements to sell real estate, HUD-1 forms, appraisal reports and other documents. A majority of the loan applications were for low income, dilapidated and otherwise depressed residential properties in the Dayton, Ohio area and other areas. Unsuspecting individual “purchasers” and “investors” were actively recruited by conspirators to purchase the properties which were financed with mortgage loans fraudulently facilitated, arranged, brokered and closed by Woods and her coconspirators. Woods also concealed the fact that prospective purchasers and mortgage applicants recruited in the scheme did not personally provide required cash down payments as reflected on HUD-1 forms and loan applications but were actually fraudulently paid on behalf of mortgage loan applicants and that Woods and coconspirators paid cash bonuses or ‘kick-backs’ to certain mortgage applicants in return for their agreement to purchase properties. The guilty plea includes information on specific transactions in which Woods was involved.

Prior court documents reflect that over $1.8 Million in mortgage loans were obtained as part of the scheme, Woods and her co-conspirators fraudulently obtained over $1.2 million for their collective personal use and the scheme involved at least 6 investors and 31 residential properties located in Montgomery County, Ohio.

Properties identified in the information:

815 Euclid Avenue, Dayton, Ohio

821 Huron Avenue, Dayton, Ohio