Sentencing Approaches for Mortgage Fraud Ringleader

Allison Tussey —  May 18, 2010 — Leave a comment

Mark Kellogg, 39, Shaker Heights, Ohio, the main defendant in the Slavic Village Mortgage Fraud case, and Beverly Cody, 43, Shaker Heights, Ohio, his co-defendant who acted as a buyer and seller, are set to be sentenced Wednesday, May 19, 2010.

Kellogg, the deal maker and main defendant in the case, fraudulently acted as a mortgage broker and operated a criminal enterprise that involved others to fraudulently buy and sell 78 Slavic Village houses for profit. His enterprise ran numerous schemes to defraud lenders into making $5.8 million in bogus loans. Co-defendant, Beverly Cody assisted Kellogg as a buyer and seller and took money for falsely claiming to work on the houses while doing business as Cody’s Cleaning Service. On April 13, 2010, Kellogg pleaded guilty to the 103 count indictment. Kellogg faces a maximum of 106 years in prison. Beverly Cody pleaded guilty to 1 count of money laundering and 3 counts of theft by deception. She faces a maximum of 7 years in prison.

Members from the Slavic Village community as well as Cleveland, Ohio City Councilman Tony Brancatelli will be in attendance.

DATE: Wednesday May 19, 2010

TIME: 1:00 PM

LOCATION: Judge Ronald Suster’s courtroom

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Allison Tussey

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