Quentin Chandler, 27, who was recently paroled from a 10-year sentence for armed robbery in DeKalb County, Georgia; Michael Turner, 44, a parole officer; Takeisha Randolph, 25, Chandler's girlfriend and a real estate agent; Duane Timmons, 45, a fedeal prison guard; and Royce Odor, 42, a loan officer, were arrested in Atlanta, Georgia following a five-month investigation into an alleged mortgage fraud scheme involving a vacant house at 716 Windsor St. S.W., Atlanta, Georgia. According to authorities the scheme involved purchase of the home, fraudulent inflation of the value and loans based on the inflated value. The defendants are reportedly suspected of similar conduct with other properties.
Authorities would not give details so as not to attract copycats.
The defendants face a maximum of 10 years in prison on each count, if convicted.
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.