Archives For jocelyn brown

An indictment in a recent SBA case outlines a fraud for commission scheme that could easily occur in mortgage lending.

Jocelyn J. Brown, 59, San Diego, California, a former loan broker for the now-defunct La Jolla Bank, was indicted by a federal grand jury on charges that she paid kickbacks to the bank’s vice president and Small Business Administration lending department manager.

According to the indictment, Brown paid the bribes in return for the banker’s assurance that the loans Brown referred would be approved and funded, and, more importantly, that Brown’s commissions would keep on flowing. Brown allegedly collected tens of thousands of dollars in referral fees from La Jolla Bank, and kicked back a portion to the bank manager, in cash, every time she was paid, the indictment said. Continue Reading…