7 Indicted for Loan Application Misreps

admin —  December 4, 2009 — 5 Comments

Lloyd Claerhout, 26, Scott J. Schirmer, 32, William R. Wonder III, 31,David E. Twitty, 27, Cameron D. Bennett, 34, Jennifer R. Hernandez, 37, and Katherine S. Sartain, 53, all of Kansas City-North, were charged in a two-count indictment returned by a federal grand jury in Kansas City for their roles in a mortgage fraud scheme that involved the purchase of a $605,000 house in Parkville, Mo.

The federal indictment alleges that each of the defendants participated in a conspiracy to commit bank fraud from July to October 2007. In addition to the conspiracy, each defendant is charged with one count of bank fraud. According to the indictment, the defendants planned to purchase the property for $605,000 then immediately re-sell it at a profit.

Schirmer allegedly located a residential property at 8118 Clearwater Pointe, Parkville, Missouri, with the understanding that it would be purchased and then resold at a profit to everyone involved. Schirmer paid Wonder $3,000, the indictment says, in order to use his name for the initial purchase of the property.

Wonder completed a loan application, with the assistance of Bennett and Twitty, which contained false financial information. Wonder allegedly signed two loan applications for Bank of America, totaling $605,000, which each contained false information regarding his monthly income, employment and bank account balances.

Schirmer then arranged to have Claerhout purchase the property from Wonder at a profit. Schirmer allegedly arranged the collection of the necessary down payment from Bennett, Wonder, Twitty and others to assist Claerhout in the purchase of the property. Co-defendants allegedly submitted loan applications and supporting documentation containing material false representations to North American Savings Bank, the mortgage lender.

Claerhout allegedly signed a Uniform Residential Loan Application for $637,600, which contained false and fraudulent information regarding his monthly income, employment, and bank account balances, in order to obtain a loan for a portion of the purchase.

Hernandez, who was employed as a teller at Mazuma, allegedly signed a “Request for Verification of Deposit” which stated that Claerhout had a current balance of $127,131 in his savings account, and an average balance for the previous two months of $127,882. Hernandez allegedly manipulated the records by transferring funds from other Mazuma accounts into Claerhout’s account to falsely reflect a substantial savings account balance, then later voiding the transfers.

Sartain, a real estate agent, allegedly signed a “Request for Verification of Rent or Mortgage Account” which falsely indicated that Claerhout was paying $4,300 rent.

Matt J. Whitworth, United States Attorney for the Western District of Missouri, cautioned that the charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

This case is being prosecuted by Assistant U.S. Attorney David M. Ketchmark. It was investigated by the FBI.


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5 responses to 7 Indicted for Loan Application Misreps

  1. Hey the fhaguy: Wrong is wrong is right! It too bad that good people like yourself have never done anything wrong in life…..but i remember reading in the “good book” recently where the only known perfect, sinless man wrote—“he that is without sin cast the first stone”. Mr. Fhaguy, please get real and stop lying!!!

  2. Wrong is Wrong. Bank Fraud is Bank Fraud. Much of our problem began with people that just didn’t realize how fragile the secondary market is and how MILLIONS of transactions just like this one are out there. So saddened I have been for the last ten years with the proliferation of liars in this industry. Prosecute them all, one by one to the maximum extent that the law allows. “A little small”, isn’t that like “a little pregnant”?

  3. good luck david and lloyd! oak park for life…

  4. Not to dismiss the fact that wrong is wrong but doesn’t this seem a little small. It sounds like they bought a house for 600k and then turned around and sold it for 637k??? After closing costs and escrow did anyone even make a profit?? You would think there were much bigger cases to spend tax dollars on.

  5. one would think that the federal government would spend more time chasing “real” crime in Kansas City! There are still a lot of people who feel that the Feds are chasing the wrong people in their quest for mortgage justice, ie–loan processors, loan originators, small mom and pops mortgage brokers, and the such. They believe that the real crooks are located on Wall Street. Please just warn these young people and let them go on with their lives, for goodness sake!!! Remember, that at the end of the day, this mortgage mess will be nothing but a gravy-train for overzealous Feds to bulk up their resumes! DON’T BE FOOLED BY THE HYPE!!!

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