Virginia Man Indicted for Mortgage Fraud

admin —  January 21, 2009 — 1 Comment

Godwin Asifo has been indicted in Alexandria, Virginia on 4 counts of mail fraud and 1 count of wire fraud for his alleged role in a mortgage fraud scheme. The indictment lists 4 properties that were granted mortgage leins based on false and fraudulent misrepresentations:

3091 Tecumseh Court, Woodbridge, Virginia

5712 Carribean Drive, Haymarket, Virginia

42451 Rockrose Square, Ashburn, Virginia

As alleged in the Indictment, Asifo recruited straw buyers; individuals who would be the legal buyers of properties and obtain mortgage loans to facilitate the purchases, but Asifo and others associated with him would be responsible for the propeties and among other things, work with mortgage brokers to get the loans approved, make the mortgage payemnts, seek renters for the properties, and look for new purchases in about six months after purchases.

Asifo would pay straw buyers for their participation in the purchases and worked with mortgage brokers on falsifying loan aplpications to show that straw buyers had more money in their bank than they actually had, earned more income than they actually earned and falsy show that the straw buyers worked at businesses with which Asifo was associated.

As part of the scheme, Asifo would temporarily put funds into a straw buyer’s bank account so that when called to verify the amount of money on deposit, bank employees would respond that the straw buyer had more money in his account than was in fact his money. Asifo had associates respond to requests for verification of employement by falsely stateing that the straw buyers worked at certain businesses.

The indictment is an allegation only, and all defendants are presumed innocent unless and until proven guilty at trial or by guilty plea.

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One response to Virginia Man Indicted for Mortgage Fraud

  1. GOWAMMA Board Member With Such Trusted High Integrity

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