Paul Redondo, 34, Meridian, Idaho, was sentenced in federal court to three years’ probation, three months of home detention, and 80 hours of community service for misdemeanor theft from a financial institution.
U.S. Magistrate Judge Ronald E. Bush also ordered Redondo to pay $101,459 in restitution. Redondo pleaded guilty to the charge on February 15, 2011.
According to court documents, Redondo admitted to providing false financial information to obtain a home equity loan from Washington Trust Bank.
Paul Redondo‘s wife, Melody, 32, pled guilty in February 2011, to making a false statement to a financial institution, a felony. She is scheduled to be sentenced by Chief United States District Judge B. Lynn Winmill on June 13, 2011.
The case is related to the ongoing Crestwood, Idaho, mortgage fraud case, which involved multiple defendants who bought and sold real estate in order to “flip” it, or gain profits from the sales.
The case was investigated by the Federal Bureau of Investigation and was prosecuted by the United States Attorney’s Office and the State of Idaho, Office of the Attorney General.
We know that the housing plans in US has declined since the economic crisis has struck the world power. It is not surprising that people are making false statements just to get relief in housing.
THE mortgage that was taken out on my home was service by 3 mortgage companies to form a pooling service with incorrect infomation on how long,i had own the house,wrong name on one of the mortgages and cash that i was to pay on a matter that i had been scam from anoher person.These mortgages in turn sold this to another mortgage co.which is litton loan servicing.
Got a buddy living in Meridian, Idaho. He blamed the spike in housing costs there on a big migration of people leaving California for neighboring states. Jacked up costs because so many people moved at one time… what’s the phrase? The pioneers catch all the arrows???