Man Jailed for Using Inflated Appraisals and Fake Liens to Defraud Lenders

Allison Tussey —  November 14, 2013 — Leave a comment

Brandon Hanly, 33, Redding, California, was sentenced by U.S. District Judge William B. Shubb to four years in prison for a mortgage fraud scheme.

According to the evidence presented at his trial, from September 2005 to April 2006, Hanly and others participated in a scheme to defraud lenders. In order to obtain loans and cash above the true value of a house, they provided the lender with inflated appraisals and title reports with fake liens in the name of a shell company, TPG Investments Inc. Then the defendants gave the lender and escrow officer instructions to pay off the lien to TPG.

At trial, Hanly testified that he was a victim of the scheme, but the evidence showed that he personally received more than $300,000 as a result of his participation.

Judge Shubb found that Hanly had committed perjury in his trial and increased the sentence in order to “send a message to people who would commit this crime and who would lie about it when they come to court.”

United States Attorney Benjamin B. Wagner announced the sentence.

This case was the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorneys Matthew Segal and Jared Dolan prosecuted the case.

Allison Tussey

Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>