Ross D. Pickard, 63, Naples, Florida, pleaded guilty to conspiracy to commit loan and credit application fraud. He faces a maximum penalty of five years in federal prison.
According to the 
plea agreement, Pickard was a senior loan officer at JP Morgan Chase Bank. He conspired with others in a scheme to defraud the bank by completing, certifying, and submitting mortgage loan applications on behalf of borrowers that contained false and fraudulent statements. The false statements included overinflated income and assets, understated liabilities, and false occupancy. By relying on Pickard’s false and fraudulent statements on the loan applications, JP Morgan Chase funded mortgage loans for otherwise unqualified borrowers.
The approximate loss suffered by JP Morgan Chase Bank associated with Pickard’s criminal conduct exceeds $33 million.
The announcement was made by Stephen Muldrow, the acting United States Attorney for the Middle District of Florida. The case was investigated by the Federal Housing Finance Agency – Office of Inspector General and the Internal Revenue Service – Criminal Investigation. It is being prosecuted by Special Assistant United States Attorney Chris Poor.
He probably should have lived in California ‘ the do nothing state.’ Poor defrauded borrowers.