Michael Troy Dyer, 46, Salem, Oregon, was sentenced in Polk County, Oregon, to 3 years in prison and ordered to pay $65,000 for mortgage fraud and drug convictions. Dyer pleading guilty to 1 count of Unlawful Manufacture of Marijuana as a Commercial Drug Offense and 1 count of Unlawful Possession of Marijuana as a Commercial Drug Offense. Dyer also was ordered to pay a $25,000 fine to the Oregon Department of Justice.
As part of a global plea bargain, Dyer was sentenced today to 13 months in prison after pleading guilty in Marion County to two counts of Mortgage Fraud. The sentence will be served concurrently with his 3-year sentence. He was also ordered to pay $40,000 in restitution to the financial institution he defrauded.
Dyer was indicted in 2009 along with Julian James Ruiz III (DOB: 4/28/1971), who was sentenced to 61 months in prison in March after pleading guilty to a variety of charges, including Aggravated Theft, Aggravated Identity Theft, Mortgage Fraud, Forgery and Tax Evasion.
Oregon Attorney General John Kroger today announced the sentence.
“Mortgage fraud is a major problem in Oregon,” said Attorney General Kroger. “The state is No. 3 in the nation in foreclosures.”
Senior Assistant Attorneys General Marc Weinstein and Simon Whang prosecuted the case for the Oregon Department of Justice.
Fighting mortgage fraud is a top priority for Attorney General Kroger. When Kroger took office in 2009, the Oregon Department of Justice had no attorneys dedicated to mortgage fraud. Since its creation, the new Mortgage Fraud Task force has opened more than three dozen mortgage fraud and foreclosure scam investigations, reaching more than half a dozen legal settlements that included restitution for Oregon consumers and banned numerous unscrupulous companies from doing business in the state.
In addition, the Department of Justice has taken aggressive legal action against Countrywide, suing the mortgage company this week to recover $29 million in losses for the state’s pension fund and reaching a settlement last year that paid the state $1 million. Countrywide further agreed to modify the interest rates and loan terms for approximately 4,600 Oregon families who obtained non-traditional mortgages from Countrywide. Once the nation’s largest mortgage lender, Countrywide estimates the total economic relief to Oregon borrowers at more than $90 million.
Attorney General John Kroger leads the Oregon Department of Justice. The Department’s mission is to fight crime and fraud, protect the environment, improve child welfare, promote a positive business climate, and defend the rights of all Oregonians.