| Author |
Previous Topic | Next Topic |
|
ML
3019 Posts |
 Posted - 05/19/2008 : 08:12:29 AM
|
Couple Admit Mortgage Fraud Scheme
FBI press release of indictment & guilty plea:
http://albany.fbi.gov/dojpressrel/pressrel07/mortgagefraud100907.pdf
BO Listing (still 28th in MA):
http://www.brokeroutpost.com/loans/mortgage_broker_profile.asp?broker=11809
The charges to which Anthony J. Andersen pleaded guilty carry a combined maximum sentence of up to 40 years imprisonment, a fine of $1.25 million or twice the gain to the defendant or loss to the victim, or both, a period of up to five years supervised release to follow any term of incarceration, and mandatory restitution to the bank for the total loss resulting from his scheme in an exact amount to be determined, which was estimated by the government at approximately $1.45 million
ALBANY—A Massachusetts couple have pleaded guilty to U.S. District Court before Senior U.S. District Judge Thomas J. McAvoy to felony charges in connection with their roles in 2001-02 mortgage fraud scheme.
Anthony J. Anderson, 53, entered a guilty plea to to submitting false statements to a federally insured financial institution for the purpose of influencing its action on loan applications and to money laundering involving using monetary transactions over $10,000 to be conducted in funds derived from such specified unlawful activity.
He admitted that he was the organizer or leader of the scheme in which he recruited others, identified in the superseding indictment as “straw borrowers,” to allow him to use their names and identifying information to apply for and obtain loans from Union Planters Bank, National Association, purportedly for the purpose of refinancing real properties that were owned and/or controlled by him.
Anderson also admitted that, as part of this scheme, he submitted applications and related documentation to UPB in the names of the straw borrowers, which submissions concealed Andersen’s true interest in the properties and contained materially false information, including false information regarding the background and qualifications of the borrowers, and false lease agreements and other supporting
documentation. He further admitted that, through the scheme, he caused to be directed to him, and to others at his direction, a substantial portion of the proceeds of the loans, in amounts well in excess of that to which he would have been entitled as a legitimate mortgage broker, and contrary to the disposition of the loan proceeds reported to UPB on the closing documents.
Prosecutors said Anderson submitted and caused to be submitted to UPB a loan application and supporting documentation in the name of another person (referred to as “PW”) for a $190,000 loan for 555-557 2d Avenue in Troy, that contained materially false and fraudulent representations as to the identity of the borrower, the borrower’s qualifications, the value and profitability of the properties, and the intended distribution of the loan proceeds. Some of these documents bear signatures in the name of the borrower, PW, that were forged by or at the direction of defendant Andersen.
On or about Aug. 22, 2001, Andersen caused the deed for the Troy property to be transferred from one of Andersen’s companies, 1st Street Troy Realty Corp., into the name of PW. Thereafter, on or about Sept. 17, 2001, Andersen and PW met at the office of the closing attorney in Latham for the closing on the loan, the proceeds of which were wired in interstate commerce from UPB to the bank account of the closing attorney in the State and Northern District of New York.
PW executed documents as directed by Andersen and the closing attorney and, on or about Sept. 25, 2001, Andersen caused a payment in the approximate amount of $1,344 to be made to PW for allowing Andersen to use his/her name and identifying information to obtain the loan on 555-557 2d Avenue. The deed to the property was transferred back out of PW’s name to another of Andersen’s companies, Troy Realty Equity Corp., on or about Nov. 7, 2001.
The mortgage amount for the loan obtained in PW’s name for 555-557 2d Avenue was $190,000, even though the bank’s subsequent investigation revealed that the property was only worth between about $40,000 and $75,000. The bank reports that it received approximately $6,225 in what the government believes were lulling payments from defendant Andersen and/or Troy Realty Equity Corp. during 2001 and 2002, and that it has suffered a loss of approximately $189,802.93, excluding interest and penalties on that one loan.
A few months after the closing on the loan, PW began to get telephone calls from UPB regarding the lack of mortgage payments, and he/she told them in substance that Andersen was supposed to be responsible for the payments. It was then that PW learned for the first time that he/she was the sole person listed as responsible for the payments on the loan documents. Subsequently, PW reported the situation to various governmental agencies.
With regard to the money laundering charge to which he pleaded guilty, Andersen admitted the $150,000 loan for 3 Diack Place, Troy, was obtained from UPB on or about Aug. 6, 2002, by means of similar materially false statements made and caused to be made by Andersen regarding the identity of the borrower, the borrower’s qualifications, the value and profitability of the property, and the intended distribution of the loan proceeds.
Thereafter, on or about Aug. 10, 2001, in Albany County, Andersen, knowing that the proceeds from the loan had been obtained by means of such false statements, caused approximately $141,402.18 from the loan proceeds to be transferred by wire from the closing attorney’s bank account at HSBC in the Northern District of New York, to defendant Andersen’s bank account at Fleet Bank in the State of
Massachusetts.
Andersen’s wife, Laura Andersen, 49, also pleaded guilty to one count of making false statements to law enforcement in connection with her participation in her husband’s scheme. Specifically, she admitted that, on or about Feb. 14, 2006, in an interview conducted by Special Agents of the Federal Bureau of Investigation and the Criminal Investigation Division of the Internal Revenue Service, U.S. Department of Treasury relating to an investigation then being conducted by said law enforcement agencies under the direction of the U.S. Attorney’s Office for the Northern District of New York, she falsely and fraudulently stated in substance, among other things, that she had never signed any type of mortgage-related paperwork on behalf of anyone else, including rental or lease agreements, Department of Housing and Urban Development forms, or any other required paperwork, and that her husband had never requested her to forge signatures or to falsely complete any part of any mortgage application package.
Prosecutors said information uncovered during the course of the investigation indicated that Laura Andersen had, in fact, signed the names of others on such paperwork. On or about Dec. 15, 2006, handwriting exemplars were obtained from the defendant pursuant to a grand jury subpoena, and expert comparison of these exemplars with the questioned documents in the case confirmed that she had, in fact, signed the names of others on numerous such documents, contrary to her
statements to law enforcement.
The charges to which Anthony J. Andersen pleaded guilty carry a combined maximum sentence of up to 40 years imprisonment, a fine of $1.25 million or twice the gain to the defendant or loss to the victim, or both, a period of up to five years supervised release to follow any term of incarceration, and mandatory restitution to the bank for the total loss resulting from his scheme in an exact amount to be determined, which was estimated by the government at approximately
$1.4 million.
Under the government’s preliminary calculations of the advisory sentencing guidelines set forth in Court, he is facing a likely guidelines imprisonment range from 41 to 71 months in prison.
His wife faces a statutory maximum sentence of up to five years imprisonment, a $250,000 fine, or both, a period of up to three years supervised release to follow any term of incarceration, as well as being liable for restitution for the loss resulting from the scheme. Under the government’s preliminary calculations of the advisory sentencing guidelines set forth in Court, she is facing up to six months in prison.
Sentencing is set for Monday, Feb. 11, in Albany
|
|
MortgageBoarder
4030 Posts |
Posted - 05/19/2008 : 08:25:44 AM
|
| What a guy. |
|
|
djorge44
1581 Posts |
Posted - 05/19/2008 : 08:26:20 AM
|
| What was his BO name? |
|
|
ML
3019 Posts |
Posted - 05/19/2008 : 08:31:30 AM
|
quote:
Originally posted by djorge44
What was his BO name?
5kmortgage? |
|
|
ML
3019 Posts |
Posted - 05/19/2008 : 08:34:44 AM
|
The wonderful Commonwealth of MA, ever in the forefront of Mortgage Broker legislation, saw fit to yank his license this year!
http://www.mass.gov/?pageID=ocaterminal&L=5&L0=Home&L1=Business&L2=Banking+Industry+Services&L3=Banking+Legal+Resources&L4=Enforcement+Actions&sid=Eoca&b=terminalcontent&f=dob_5k01252008&csid=Eoca
COMMONWEALTH OF MASSACHUSETTS
Suffolk, SS.
COMMISSIONER OF BANKS
MORTGAGE BROKER
LICENSING
Docket No. 2008-004
FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST
--------------------------------------------------------------------------------
In the Matter of
5K MORTGAGE CORPORATION
ANTHONY J. ANDERSEN, individually
LAURA ANDERSEN, individually
Florence, Massachusetts
Mortgage Broker License No. MB2971
--------------------------------------------------------------------------------
The Commissioner of Banks ("Commissioner") having determined that 5K MORTGAGE CORPORATION, LLC, ANTHONY J. ANDERSEN, and LAURA ANDERSEN (collectively, "5K Mortgage Corporation" or the "Corporation"), located at 28 Sylvan Lane, Florence, Massachusetts, 01062 has engaged in, or is engaging in, or is about to engage in, acts or practices constituting violations of Massachusetts General Laws chapter 255E and applicable regulations found at 209 CMR 42.00 et seq., hereby issues the following FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST ("Temporary Order") pursuant to General Laws chapter 255E, section 7(b).
A. FINDINGS OF FACT
The Division of Banks ("Division"), through the Commissioner, has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a mortgage broker in Massachusetts pursuant to Massachusetts General Laws chapter 255E, section 2.
5K Mortgage Corporation is, and at all relevant times, has been a Corporation doing business in the Commonwealth of Massachusetts. 5K Mortgage Corporation engages in the business of a mortgage broker at 28 Sylvan Lane, Florence, MA 01062.
5K Mortgage Corporation is licensed by the Commissioner as a mortgage broker as required by Massachusetts General Laws chapter 255E, section 2. According to records maintained on file with the Division, the Commissioner issued 5K Mortgage Corporation's initial license to engage in the business of a mortgage broker in Massachusetts on or about January 6, 2003.
Anthony J. Andersen is the president, director and fifty percent shareholder of 5K Mortgage Corporation.
Laura Andersen is the vice-president and fifty percent shareholder of 5K Mortgage Corporation.
(i) Felony Indictments/Convictions Affecting a Determination of the Licensee's Financial Responsibility, Character, Reputation, Integrity and General Fitness to Engage in the Licensed Business as to Anthony J. Andersen
Massachusetts General Laws chapter 255E, section 4 states, in part, that:
Upon the filing of an application for a license, if the commissioner finds that the financial responsibility, character, reputation, integrity and general fitness of the applicant, and of the partners or members thereof if the applicant is a partnership or association, and of the officers, directors and principal employees if the applicant is a corporation, are such as to warrant belief that the business will be operated honestly, fairly, soundly and efficiently in the public interest consistent with the purposes of this chapter, he shall thereupon issue the applicant a license to engage in the business of a mortgage lender or mortgage broker. If the commissioner shall not so find, he shall not issue a license and he shall notify the applicant of the denial.
Massachusetts General Laws chapter 255E, section 6 states, in part, that:
The commissioner may suspend or revoke any license issued pursuant to this chapter if said commissioner finds that: (i) the licensee has violated any provision of this chapter or any rule or regulation adopted hereunder, or any other law applicable to the conduct of its business; or (ii) any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the commissioner in refusing to issue such license.
On February 16, 2007, a federal Grand Jury, impaneled in the United States District Court, Northern District of New York, returned an indictment against Mr. Andersen charging him with thirty felony counts, including: multiple counts of submitting false statements to a financial institution in violation of 18 U.S.C. §§ 1014, 2; one count of bank fraud in violation of 18 U.S.C. §§ 1344(1), (2), 2; multiple counts of money laundering in violation of 18 U.S.C. §§ 1956(a)(1)(A), 2, 18 U.S.C. §§ 1956(a)(1)(B)(i), 2 and 18 U.S.C. §§ 1957, 2; and one count of conspiracy to commit offense(s) against the United States, or to defraud the United States, or any agency thereof, in violation of 18 U.S.C. § 371.
On February 27, 2007, Mr. Andersen was arraigned pursuant to the criminal charges set forth in the February 16, 2007 indictment referenced above.
On June 22, 2007, a federal Grand Jury, impaneled in the United States District Court, Northern District of New York, returned a superseding indictment (the "superseding indictment") against Mr. Andersen and Laura Andersen, charging Mr. Andersen with the identical thirty felony counts as referenced in Paragraph 8 of this Temporary Order. The superseding indictment differed from the February 16, 2007 indictment in that Ms. Andersen was added as a defendant and charged with certain of the counts set forth in the February 16, 2007 indictment and with one additional felony count added to the indictment which pertained only to Ms. Andersen's alleged activities, as further described in Section (ii) of this Temporary Order.
On October 9, 2007, Mr. Andersen entered a Plea and Cooperation Agreement ("Mr. Andersen's Plea Agreement") and changed his plea from "Not Guilty" to a plea of "Guilty" as to two of the counts set forth in the superseding indictment. Specifically, Mr. Andersen pled guilty to: one count of submitting false statements to a financial institution for the purpose of influencing the financial institution's action on loan applications in violation of 18 U.S.C. §§ 1014, 2; and one count of money laundering involving monetary transactions over $10,000 in violation of 18 U.S.C. §§ 1957, 2. Mr. Andersen's sentencing has been scheduled for February 11, 2008.
etc, etc, etc |
|
|
fsboguy
3665 Posts |
Posted - 05/19/2008 : 08:58:59 AM
|
Here is a pic of Tony calling his lawyer.
http://www.5kmortgage.com/about.html |
|
|
DaveDeal
66 Posts |
Posted - 05/19/2008 : 09:57:17 AM
|
| Maybe he's innocent and simply thought that was an acceptable way to do business. :) |
|
|
ML
3019 Posts |
Posted - 05/19/2008 : 10:18:18 AM
|
quote:
Originally posted by fsboguy
Here is a pic of Tony calling his lawyer.
http://www.5kmortgage.com/about.html
That's funny, but that IS a pix of him! He started his business as National Credit Clearing Corp, and was involved in numerous other scandals along the way, including: Andrew Capoccia and the “Law Centers for Consumer Protection,” |
|
|
ML
3019 Posts |
Posted - 05/19/2008 : 10:19:43 AM
|
quote:
Originally posted by fsboguy
Here is a pic of Tony calling his lawyer.
http://www.5kmortgage.com/about.html
He also took his wife down with him! She's getting like 1 to 5! |
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
