Monday, May 05, 2008

Woman Sentenced To 2 Years For Mortgage Fraud

Yolanda Crawley, 59, West Palm Beach, Florida was sentenced to two years in prison followed by five years of supervised release for wire fraud arising from a mortgage fraud scheme.  Judge Motz also ordered Crawley to pay restitution of $200,000.

According to her guilty plea, from January 2005, continuing until December 2006, Crawley worked with David Lincoln, Rachel Donegan, and her son, Shawn Green to submit mortgage applications containing false representations about her income and employment, allowing her to secure loans for property at 10740 Versailles Boulevard, Wellington, Florida (valued at approximately $1,025,000); and 477 Pacific Grove Drive, Unit Three, West Palm Beach, Florida (valued at approximately $500,000). 

Specifically, Crawley signed loan documents dated June 20, 2005 for 10740 Versailles Boulevard, Wellington, Florida, which listed Crawley‘s income as $25,000 per month or $300,000 per year.  The documents also listed Crawley‘s employer as someone for whom she had never worked.  In addition, Crawley signed two separate loan documents, both dated August 23, 2005 for 477 Pacific Grove Drive, Unit Three, West Palm Beach, Florida.  The documents listed Yolanda Crawley‘s income as $20,000 per month or $240,000 per year on one application and $15,000 per month or $180,000 per year on another application.  Crawley and the other participants knew the income and employment information in these applications was false.  The loan documents were faxed from Maryland to financial institutions in other states.

The loss amount on the Versailles property as of September, 2007 is approximately $120,000 and the parties agree that the total loss amount is less than $200,000.

Special Agent in Charge C. Andre’ Martin, IRS Criminal Investigation stated, “Mortgage fraud adds to the underground economy that erodes the integrity of our tax system and threatens the financial health of our communities.  IRS-Criminal Investigation together with the law enforcement community are united in our resolve to financially disrupt criminal organizations that commit crimes against our society and the economy.”

Lincoln and Donegan, both 38, Baltimore, Maryland, pleaded guilty to the same charge and were sentenced to 15 months in prison and 18 months probation, respectively.

Shawn Green, 41, Columbia, Maryland, is charged in a separate indictment with conspiracy to distribute cocaine from 1998 to 2007 and conspiracy to commit money laundering from 2004 to 2007.  The indictment seeks forfeiture of $4 million, which is based on a minimum of 200 kilograms of cocaine at $20,000 per kilogram, and includes the properties in Baltimore, Maryland and Florida involved in the fraud scheme. An indictment is not a finding of guilt.  An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceedings.  Green is a fugitive.

mortgage fraud