Conspirator Charged For His Role in $9.8M Mortgage Fraud

Allison Tussey —  July 29, 2009 — 1 Comment

Fielding Dameron, 60, Miami, Florida, was charged in an Information for his role in a mortgage fraud conspiracy that resulted in the issuance of more than $9.8 million in mortgage loans from 2005 through 2007.

According to the Information filed July 27, 2009, Dameron, working with other uncharged co-conspirators, participated in numerous fraudulent real estate transactions in Miami-Dade and Broward Counties, Florida. Dameron recruited individuals to serve as straw purchasers or otherwise obtained stolen identities for use in transactions. Using a fraudulent loan borrower, a mortgage broker working with Dameron submitted applications to various lending institutions. Once a lender would approve an application, often for an amount higher than what was negotiated with the seller, it would wire the loan proceeds to a title company in advance of the closing. The complicit title company would direct the funds in advance of the closing to Dameron, who would wire back the funds to the title company in the form of cashier’s checks to be used as the buyer’s contribution to the transaction. Following a transaction’s closing, the title company would wire Dameron money as his share of the profit.

The defendant was charged with conspiracy to commit mortgage fraud. Mr. Sloman commended the investigative efforts of the Federal-State Mortgage Fraud Strike Force, with special commendation to the U.S. Secret Service, Miami-Dade Police Department, and the FBI. The case is being prosecuted by Assistant U.S. Attorney Jeffrey E. Tsai.

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Allison Tussey

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One response to Conspirator Charged For His Role in $9.8M Mortgage Fraud

  1. Michigan Bankruptcy Lawyer July 29, 2009 at 2:03 pm

    It is amazing that people think they can get away with fraud!

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