*** BEGIN QUOTE ***
Harold Stafford, Miles Jackson Black and Jeffrey Dunn Hathcock
were indicted by a federal grand jury for conspiracy, wire fraud and
bank fraud. In addition, Harold Stafford was charged with money laundering.
The fifty-one count Indictment alleges that from January 2005
through October 21, 2005, Stafford, Black and Hathcock engaged in a
mortgage fraud scheme that involved the purchase of approximately
twenty-two luxury homes ...in Hendersonville and Gallatin, Tennessee by
unqualified straw buyers. Stafford, Black and Hathcock caused the
submission to mortgage lenders of false mortgage loan applications that
overstated the straw buyers' income, falsely stated that the homes would
be the straw buyers' primary residences, and failed to disclose other
recent home purchases by the same straw buyers.
If convicted, Stafford, Black and Hathcock each face up to 30
years in prison, a $1,000,000 fine, and supervision for up to five
years. However, any sentence following conviction will be imposed by the
Court after consideration of the U.S. Sentencing Guidelines and
applicable federal statutes.
This case is being investigated by the United States Secret
Service, the Internal Revenue Service Criminal Investigation Division
and the 18th Judicial District Drug Task Force.
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The addresses of the twenty-two (22) luxury homes involved in
this case, as well as a copy of the indictment, can be accessed at:
http://www.mortgagefraudblog.com/
This just underscores the need to take mortgage fraud seriously
...AND the need to educate everyone in your office about the pitfalls to
avoid!
[SOURCES: Rachel Dollar; Public Records/11-27-07 Edition of the TAR DIGEST]
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