7 Charged in Colorado Mortgage Fraud Scam

admin —  February 1, 2010 — 4 Comments

Scott Steven Richardson, 36, Thomas Sarantinos, 23, Douglas Lynn Dean, 50, Michael Spahn, 43, Wayne Jones, 46, Gary Luna, 26, and Jason Webb, 22, are charged with violation of Colorado Organized Crime Control Act (COCCA) (F2), theft (F4), forgery (F5), conspiracy to commit theft (F4), and conspiracy to commit forgery (F4). The charges allege that the defendants, using phony documents and information, stole hundreds of thousands of dollars by repeatedly purchasing homes in foreclosure without any intention of paying the mortgages. The losses to mortgage companies are allegedly hundreds of thousands of dollars.

Richardson is currently serving a four-year DOC sentence for theft of an at-risk adult (F3) and is on an authorized work release program. He has been released on a $100,000 bond in this new case. He is scheduled to appear February 22, 2010, in Denver, Colorado, District Courtroom 23 at 8:30 a.m. for arraignment.

Sarantinos has been released from custody on a $100,000 bond. He is scheduled to appear in Denver, Colorado District Courtroom 9 on March 3, 2010 at 8:30 a.m. for arraignment.

Dean has been released from custody on $100,000 bond and is scheduled for advisement on January 29, 2010 at 8:30 a.m. in Denver, Colorado District Courtroom 9.

Spahn has been released from custody on a $100,000 bond. He is scheduled to appear in Denver, Colorado District Courtroom 9, on March 2, 2010, at 8:30 a.m. for arraignment.

Jones is currently in the custody of Denver County Jail; his bond is set at $30,000. He is scheduled to appear February 22, 2010, at 8:30 a.m. for arraignment.

Luna is in custody in Illinois. His bond is set at $100,000.

Webb is currently in custody at the Denver County Jail; his bond is set at $30,000. He is scheduled to appear in Denver, Colorado District Courtroom 23, on March 2, 2010, at 8:30 a.m. for arraignment.

The presumptive range for sentencing on a class 2 felony is up to 24 years in prison.

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4 responses to 7 Charged in Colorado Mortgage Fraud Scam

  1. susan rademacher April 11, 2012 at 12:56 am

    I lost my home due to them and left me homeless The notary plea guilty and gets 2 years probation and no restution.

    • I also lost my home because of these scumbags and their schemes. Justice definitely has not been served, yet.

      • susan rademacher February 27, 2014 at 1:03 am

        Im sorry to hear someone wen t thur what i did and no help for victim it hurts me everyday i lost my home and nothing done to them

  2. joe the appraiser February 1, 2010 at 12:00 pm

    Why does Spahn still have an appraiser’s license with the state of Colorado?? why hasn’t his license been revoked? If you read other articles about this incident Spahn pocketed over $2,000,000. Look him up at DORA.

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