Punishment for crimes like mortgage fraud can be severe. A man from Baltimore County found this out when he recently received a sentence of 35 years after pleading guilty to nine counts of mortgage fraud.
Authorities accused the man of defrauding as many as 48 victims. The man admitted to running a mortgage loan modification business with no license. He received warnings from the state to cease and desist his actions but did not heed the warnings. A Baltimore County assistant prosecutor said that the man just "couldn't help himself" even though he had been warned.
The man admitted to using fake documents to trick people into trusting that his business was legitimate. Then, he would have them send mortgage payments to bank accounts he owned and use the money to support his lifestyle. He blamed cocaine and gambling addictions for his actions but insisted that his intention was to help families get the modifications needed to keep their homes.
Prosecutors said his actions were "malevolent and meticulous." Currently, the man owes $121,000 to some of his victims. The restitution owed to the remaining victims is still being decided.
Source: WBAL TV, "Baltimore County man sentenced in mortgage fraud case," Dec. 4 2012