Brian K. Bowling, 44, Sun Prairie, Wisconsin, was sentenced to 51 months in prison, to be followed by a five-year term of supervised release. Bowling was convicted of two counts of wire fraud on May 28, 2010. Bowling was also ordered pay $377,271 in restitution.
As previously reported on Mortgage Fraud Blog, Bowling pleaded guilty to engaging in a mortgage fraud scheme using his mortgage brokerage company called Platinum Concepts. Bowling defrauded banks and other mortgage lenders by submitting false loan applications to obtain home loans. The loan applications included inflated income amounts, exaggerated assets, falsified employment information, bogus down-payments and silent second mortgages. To date, five individuals have pleaded guilty to participating in this scheme.
United States Attorney for the Western District of Wisconsin made the announcement.
The charges are the result of an investigation conducted by the Madison office of the Federal Bureau of Investigation. The prosecution of this case has been assigned to Assistant U.S. Attorney Daniel J. Graber.