Woman Sent to Prison for Fraudulent REO Purchase Scheme

Allison Tussey —  August 22, 2014 — 2 Comments

Daniela Spiridon, 43, St. Charles, Missouri, was sentenced to 78 months in prison involving a real estate scheme related to the purchase and sale of REO properties. In addition to the prison sentence, she was also ordered to pay $2,499,988 restitution and a fine of $5,000.

According to court documents, Spiridon was affiliated with several businesses from an office in Chesterfield, Missouri, which included A & AD Investments, LLC; CDRS ESC Investments; Sentrix Loan Production Office, and others.

As part of the scheme Spiridon fraudulently offered to assist buyers in the purchases of properties that were acquired by lenders through foreclosure and held in inventory (REO properties). She offered to broker purchases or arrange for financing related to the purchase or sale of the REO properties. She had potential buyers place deposits on the properties, which she was to put into an escrow account, but she actually put the monies in a non-escrow account in one of her own companies. She often used buyers’ funds for personal expenses and to reimburse other buyers who demanded their funds be returned rather than to secure real property or financing.

Spiridon pled guilty last September to six felony counts of wire fraud, and appeared for sentencing before United States District Judge John A. Ross.

This case was investigated by the Federal Bureau of Investigation, Postal Inspection Service, and Federal Housing Finance Agency Office of Inspector General. Assistant United States Attorney Rob Livergood is handling the case for the U.S. Attorney’s Office.

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Allison Tussey

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2 responses to Woman Sent to Prison for Fraudulent REO Purchase Scheme

  1. Of course they were defrauded. If you tell a person to jump into a lake full of allegators knowing fully that the person will get eaten or be kill.. It’s your false, you defrauded that person, or aided in the death of that person. Just like what the bank and mortgage companies been doing. They tell the buyers that they can afford a house even though the buyer’s income is too low to qualify for the loan. A few years later the buyer discovered that they really cannot afford the house and than the buyer got foreclosed for not being able to pay for the mortgage. Same situation with telling someone to jump into a lake infested with gators, knowing that that person will get eaten alive.

    • Rob – Do you take any accountability for your own finances, or is it someone elses fault if you can’t pay your bills? Shouldnt you as the consumer determine if you’re able to pay for a mortgage YOU are ASKING for? I am pretty sure the bank didn’t call them and say they have to take out a mortgage. Why is it a banks fault if I apply for something I can’t pay for and then default on the loan? In what other realm would this even be a discussion? If I apply for a cell phone, gym membership, or auto loan that I cant afford, is it the other companies fault that I can’t pay for it? How would that conversation even go? “Dear cable company, you should have known that I couldn’t afford your service WHEN I APPLIED FOR IT so it’s your fault that I have overdrawn my bank account, so please pay my bank bank.” Is that the world you want to live in Rob? What happened to personal responsibility??????

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