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Businessman Sentenced to 76 Months

Friday, March 21 2008 05:24

Robert L. Dodsworth, 60, Erie, Pennsylvania, has been sentenced in federal court to 76 months in jail, a $50,000 fine, over $57,000 in restitution and three years supervised release on his conviction of conspiracy and money laundering.

As previously reported by Mortgage Fraud Blog and according to information presented to the court by Assistant United States Attorney Christian A. Trabold, Dodsworth and others conspired to falsify mortgage loan applications for home buyers who could not have otherwise obtained a mortgage. Dodsworth and others also accompanied prospective home buyers to the buyers' banks and deposited money into the buyers’ accounts to make it appear as if the buyers had higher account balances. In conjunction with his plea and sentencing, Dodsworth agreed that the amount of loss attributable to his conduct was more than $1,000,000. Dodsworth also stipulated that he was a manager and supervisor of the conspiracy.

Prior to imposing sentence, Judge McLaughlin stated that when "the fraudulent house of cards" that Dodsworth "constructed collapsed, many individuals lost their homes." Judge McLaughlin also noted that Dodsworth's conduct was "protracted and quite destructive to the community."

2 comments

  • Comment Link Handy Saputra Friday, March 21 2008 10:31 posted by Handy Saputra

    Good post! With the constant change in the mortgage markets, good up to date resources are essential. thank for this sharing!

  • Comment Link Handy Saputra Friday, March 21 2008 10:27 posted by Handy Saputra

    Good post! With the constant change in the mortgage markets, good up to date information are essential.

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Rachel Dollar 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.
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