Three Nevada residents indicted for mortgage-lending fraud

Three Nevada residents have been charged with fraud in relation to a mortgage lending scheme.

2013-05-17

May 17, 2013 (Press-News.org) Three Nevada residents indicted for mortgage-lending fraud

Article provided by Sprenz & Associates, P.C.
Visit us at http://www.sprenzlaw.com

Among today's crimes, mortgage and foreclosure rescue scams continue to be a common threat to those suffering in the current economy. This is because people will do almost anything to keep their homes. As Americans continue to struggle financially, they often become vulnerable to fraudulent ploys.

Nevada Attorney General Catherine Cortez Masto reports that three Nevada residents have recently been indicted by a grand jury on felonies in connection with an alleged mortgage-lending scheme. The 15-count indictment was initiated in late April 2013.

According to authorizes, the defendants charged between $6,295 and $12,990 for home-saving programs, but did not deliver the services promised to the clients. Specifically, the defendants allegedly encouraged forensic audits, informing clients that they could be granted an elimination of mortgage obligations if the audit uncovered violations under the Real Estate Settlement Procedures Act.

Sources suggest that the suspects also claimed that using a specific process to send documents to various entities would permit clients to obtain their homes free and clear of any mortgage obligations. Authorities note that the suspects sold a program to clients, which purportedly claimed to allow homeowners to get their home free of a mortgage if they signed their home to a nonprofit.

Charges include mortgage lending fraud, transactions involving fraud and deceit in the course of enterprise and counts for preventing a victim (or another) from reporting crime, initiating prosecution or causing arrest.

Fraud crimes often involve abuse of trust or deception. As a result, such crimes differ from the standard theft. Despite the egregious allegations involving fraud and deceit, the defendants in the aforementioned case remain innocent until proven otherwise. If the suspects are found guilty of such crimes, they stand to lose a lot. This is especially true because a sentencing judge might not be so lenient on those who have targeted innocent victims that are already suffering financially. A guilty verdict may mean ample fines and several years behind bars for the suspects.

Because these cases carry such stringent penalties, those confronting fraud charges may benefit from legal support. These cases are complex, and a qualified criminal law attorney can assess and gather any relevant information in preparation for a defense.

If you have been charged with a serious crime, you may want to contact a knowledgeable criminal defense attorney in your area. As you confront any charges against you, it might help to have experience by your side.

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Three Nevada residents indicted for mortgage-lending fraud

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