Sixth and Final Conspirator Enters Guilty Plea in Mortgage Fraud Scheme

admin —  July 31, 2009 — Leave a comment

Jessica A. Zbacnik, 42, Monroe, Ohio has plead guilty in United States District Court for her role in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County, Ohio.

Zbacnik pleaded guilty to one count of conspiracy to commit money laundering and one count of conspiracy to commit mail fraud, wire fraud and money laundering. She is the sixth and final defendant to have pled guilty to various mortgage fraud charges following a June, 2008 indictment which was handed down in Dayton, Ohio federal court.

In court, Zbacnik admitted that she was part of the conspiracy that took place between March 2002 and June 2008 and operated and controlled various real estate mortgage and title insurance related businesses and corporations with the object of entering into a fraudulent scheme designed to obtain monies, profits, real property, and other things of value.

According to the statement of facts filed in court, Zbacnik admitted that she had helped arrange, facilitate, and manipulate documents associated with real estate sales and closings in order to fraudulently obtain excess mortgage loan proceeds generated from the sale of residential properties for the personal benefit of the defendant and her co-conspirators.

Zbacnik’s five other co-conspirators were:

Edward McGee, 74, Dayton, Ohio, who pleaded guilty on May 12, 2009 to conspiracy to commit money laundering

Kenneth O. McGee, 49, Dayton, Ohio,  (son of Edward McGee), who pleaded guilty May 12, 2009 to conspiracy to commit mail fraud, wire fraud, and money laundering and conspiracy to commit money laundering

Julian M. Hickman, 31, formerly of Centerville and now living in East Cleveland, Ohio, who pleaded guilty to conspiracy and tax crimes on December 15, 2008

Robert Mitchell, 42, Vandalia, Ohio, who pleaded guilty to conspiracy to commit mail fraud, wire fraud, and money laundering and conspiracy to commit money laundering on March 11, 2009

Kamal J. Gregory, 34, Centerville, Ohio, who pleaded guilty to conspiracy to commit mail fraud, wire fraud, and money laundering and conspiracy to commit money laundering on April 14, 2009

Zbacnik faces up to 30 years’ imprisonment on the charge of conspiracy to commit mail fraud, wire fraud, and money laundering, a $1 million fine, and five years of supervised release. She faces additional penalties of up to 20 years’ imprisonment, a fine the greater of either $500 thousand or twice the value of the property involved in the subject transaction, and three years of supervised release on the conspiracy to commit money laundering charge. All six co-conspirators are awaiting sentencing.

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