Elizabeth Son, 26, 3 Walker Road, North Andover, Massachusetts, pled guilty before U.S. District Judge Rya W. Zobel to four counts of Wire Fraud. As previously reported on Mortgage Fraud Blog, Son was arrested in early October.

At the plea hearing, the prosecutor told the Court that had the case proceeded to trial the Government’s evidence would have proven that in of 2005 Son participated with others in a scheme to defraud mortgage lenders in connection with tow properties in Dorchester, MA. The evidence would establish that Son agreed to serve as a straw borrower on fraudulent loan applications with the result that two out-of-state lenders each wired more than $500,000 to the account of a Boston attorney who was responsible for closing the loans. The same properties and mortgage loans are among charges filed against 11 other defendants who are pending trial in federal court under an Indictment returned by the Grand Jury in May of 2008, which was previously reported on Mortgage Fraud Blog.

Judge Zobel scheduled sentencing for June 16, 2008. On each of the four counts, Son faces up to 20 years imprisonment, to be followed by 3 years of supervised release and a $250 fine.