2 Indicted for Mortgage Scam Involving 43 Properties

Paxton Jeffrey Anderson, 40, and Joseph John Plany, 39, have been indicted in Arizona for their alleged participation in a mortgage fraud scheme.

According to the indictment, Anderson was the owner of Dynamite Custom Homes from 2002 through 2007. Anderson worked as a home builder through Dynamite Custom Homes, and later through J. R. Custom Homes.

Plany was employed from October 2004 through 2007, as the Certified Public Accountant for Dynamite Custom Homes, J. R. Custom Homes, and other various business entities.

From December 30, 2001 to June 2009, Anderson and Plany devised a scheme to defraud lenders and to obtain money from lenders by means of false and fraudulent pretenses, representations, and promises and by intentional concealment and omission of material facts.

Anderson, Plany and others devised a scheme to purchase real properties that misrepresented material information including the buyer’s assets, income, liabilities, sources of indented down-payment, and intent to occupy the improved property as a primary residence. It was also part of the scheme to inflate and falsify invoices, misrepresent to the lender that work was completed, and to forge construction draw requests to obtain funds from lenders.

Anderson, Plany and others conspired with each other to engage in an ongoing conspiracy to obtain real estate based on loan applications misrepresenting material information to the lender and misrepresenting that draw requests were used for construction expenses when in fact the draws were used for personal expenses of Anderson. The purpose of the conspiracy was to use an appraisal that substantially inflated the fair market value of the property in order to obtain a higher loan amount based on the appraisal. To use friends, family members and others to purchase properties, in some cases multiple properties, for each buyer.

The properties referenced in the indictment include:

Lot 4, Cottonwood, Apache Junction, AZ;

7376 Wilderness Trail (Lot 12), Apache Junction, AZ;

7179 E. Wilderness Trail, Apache Junction, AZ;

8815 E. Lost Gold Circle,  Apache Junction, AZ;

7390 E. Wildflower Lane, Apache Junction, AZ;

8703 E. Lost Gold, Apache Junction, AZ;

13864 E. Coyote Way, Fountain Hills, AZ;

9132 N. Shadow Ridge Trail, Fountain Hills, AZ;

14252 E. Zorra Way, Fountain Hills, AZ;

14353 E. Zorra Way, Fountain Hills, AZ;

14245 E. White Fang, Fountain Hills, AZ;

10240 N. Fire Canyon, Fountain Hills, AZ;

2546 S. Moonlight Drive, Gold Canyon, AZ;

7165 E. Juniper Village, Gold Canyon, AZ;

Lot 5, Ponderosa Village, Gold Canyon, AZ;

6752 E. Arroyo Verde Road, Gold Canyon, AZ;

3414 S. Sycamore, Gold Canyon, AZ;

8787 E. Lost Gold Circle, Gold Canyon, AZ;

3505 S. Ponderosa, Gold Canyon, AZ;

4353 Desert Gate Circle, Mesa, AZ;

7153 E. Summit Trail, Mesa, AZ;

16802 S. 31st Way, Phoenix, AZ;

15050 N. Four Mile Creek Ln., Prescott, AZ;

14485 N. Centennial Drive, Prescott, AZ;

5225 W. Three Forks Rd., Prescott, AZ;

15205 N. Little Diamond Way, Prescott, AZ;

15125 N. Third Mesa Lane, Prescott, AZ;

Lot 24 Talking Rock, Prescott, AZ;

Lot 156 Talking Rock, Prescott, AZ;

Lot 174 Talking Rock, Prescott, AZ;

14695 N. Kinishba Fire, Prescott, AZ;

41731 N. 111 Place, Scottsdale, AZ;

37465 N. 104th Place, Scottsdale, AZ;

37595 N. 104th Place, Scottsdale, AZ;

36365 N. 100th Way, Scottsdale, AZ;

10890 E. Sundance, Scottsdale, AZ;

9132 Shadow Ridge Trail, Scottsdale, AZ;

41606 N. 113th Place, Scottsdale, AZ;

40645 N. 97th Street, Scottsdale, AZ;

10926 E. Winter Sun Drive, Scottsdale, AZ;

10299 E. Windrunner Dr, Scottsdale, AZ;

2743 S. Pinyon Village, Superstition Mountain, AZ; and

3540 S. 1st Water Trail, Superstition Mountain, AZ;