Woman Sentenced to 9 Years in Prison for Mortgage Fraud

Allison Tussey —  December 22, 2010 — 1 Comment

Susan Alt, 58, Thousand Oaks, California, was sentenced in Ohio to nine years in prison and ordered to forfeit $2 million for her participation in a $14.7 million mortgage fraud scheme.

On July 6, 2010, Susan Alt pleaded guilty to 31 felonies: one count of engaging in a pattern of corrupt activity, a first degree felony, seven counts of theft by deception, seven counts of falsification, seven counts of additional money laundering prohibitions, three counts of tampering with records, one count of forgery, three counts of theft by deception, and two counts of securing records by deception.

Cuyahoga County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General Richard Cordray and Ohio’s Organized Crime Investigations Commission announced the sentenced 

Prosecutor Mason said, “Using her extensive experience in the banking and real estate industry in California, she orchestrated this 14.7 million dollar mortgage fraud scheme. Her guilty plea to 31 felony mortgage fraud offenses represents the successful, collaborative effort of the Mortgage Fraud Task Force to combat the rampant mortgage fraud in this region.”

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Allison Tussey

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One response to Woman Sentenced to 9 Years in Prison for Mortgage Fraud

  1. A fitting and proper sentence. Minimum sentence for mortgage fraud by a real estate licensee should be 10 years.

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