3 Charged with Falsifying Loan Applications

Allison Tussey —  December 4, 2013 — Leave a comment

Rita “Jessica” Martinez, 31, Gilbert Martinez, 35, both of Houston, Texas, and Felix Martinez, 37, New Caney, Texas, have been charged with conspiracy and bank fraud for their alleged involvement in a scheme to defraud Farmers and Merchants Bank, Long Beach, California, of bank loans for themselves and others.

The defendants were arrested without incident at their residences. They made their initial appearances before U.S. Magistrate Judge Mary Malloy, at which time they were permitted release upon posting bond.

According to allegations in the indictment, Jessica Martinez worked as a loan processor at a Houston area-business known variously as Globan Mortgage Company, Casa Milagro, and First Milagro. She allegedly submitted falsified loan applications for Gilbert and Felix Martinez and others to Farmers and Merchants Bank. The indictment alleges the defendants completed loan applications containing falsified income information and provided false information about borrowers’ employment, income, and assets.

The indictment also provides notice of the government’s intent to forfeit their interest in the loan proceeds they allegedly obtained as a result of the bank fraud scheme, including a house in New Caney, Texas, that was allegedly purchased with loan proceeds from the purported fraud.

The maximum penalty, upon conviction, for conspiracy and bank fraud is 30 years in prison and a $1 million fine.

United States Attorney Kenneth Magidson announced the charges.

This case is being investigated by the FBI, United States Postal Inspection Service, and the Federal Deposit Insurance Corporation. Assistant United States Attorney Belinda Beek is prosecuting.

Allison Tussey

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