Precision Mortgage Fraudster Sentenced

admin —  February 19, 2010 — Leave a comment

Jason J. Jester

United States Attorney Robert S. Cessar commended the Mortgage Fraud Task Force for the investigation leading to the successful prosecution of Jester. The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry. Federal law enforcement agencies participating in the Mortgage Task Force include the United States Secret Service; the Federal Bureau of Investigation; the Internal Revenue Service, Criminal Investigations; the United States Department of Housing and Urban Development, Office of Inspector General; and the United States Postal Inspection Service. Other Mortgage Fraud Task Force members include the Allegheny County Sheriff’s Office; the Pennsylvania Attorney General’s Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee’s Office.

, 40, Pittsburgh, Pennsylvania, has been sentenced in federal court to five years of probation, including four months of home detention, on his conviction of Wire Fraud Conspiracy in connection with a mortgage fraud scheme.

As previously reported on Mortgage Fraud Blog, according to information presented to the court by Assistant United States Attorney Brendan T. Conway, Jester, along with Randy Carretta, operated Precision Mortgage, a mortgage broker business that assisted individuals obtain financing to purchase real estate. Jester, along with other members of the conspiracy, obtained financing for individuals to purchase real estate based on material misrepresentations as to the buyers’ financial condition and other misrepresentations. In addition, with the knowledge and assistance of Jester, other members of the conspiracy submitted fraudulent documents to the lenders, including appraisals that overstated the value of the property, and W—˜2s, pay stubs and similar documents that overstated the buyer’s income.

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