Former Police Lieutenant Pleads Guilty to Mortgage Fraud

Allison Tussey —  December 6, 2013 — Leave a comment

Erroll Davis, 52, Chicago, Illinois, a former police lieutenant who allegedly played a role in a mortgage fraud scheme has pleaded guilty to to one count of making false statements in a tax return.

As previously reported by Mortgage Fraud Blog, Davis was charged in the same indictment as Robert Michael, 62, Chicago, Illinois, an owner of Chicago realty business, who formerly was also the chief executive of a failed Chicago bank.  The indictment alleged that Michael was involved in a scheme to illegally provide a $650,000 mortgage for the purchase of a south side apartment building.  Davis was charged with federal income tax fraud and pled guilty on December 5, 2013.

According to media reports, Davis admitted in his plea agreement he lied on the loan application and failed to claim the $30,000 as income on his 2008 tax return.

Allison Tussey

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