Georgia Criminal Defense Lawyer Blog

Another mortgage fraud conviction in Atlanta, and another lengthy sentence. In federal court last Friday, Joseph Sterling Jetton received a 14 year prison sentence and was ordered to pay over $11 million in restitution.

The Macon Georgia Telegraph has the story.

Our criminal defense lawyers have handled many mortgage fraud cases in Atlanta and other parts of Georgia. We have represented real estate agents, mortgage brokers, closing attorneys, investors and straw purchasers.

Our lawyers have been able to successfully resolve a few complex mortgage fraud investigations on behalf of our clients by showing that these clients were not aware of the fraudulent statements made on the loan applications and closing documents. In cases that cannot be resolved without a plea, the ultimate sentence usually depends on the amount of loss attrbuted to the person, and that person's role in the overall offense.

Considering the continued decline of the real estate market, and the amount of properties going into foreclosure, our lawyers expect more criminal investigations into mortgage fraud and other questionable real estate transactions in Atlanta.

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Posted In: Federal Criminal Law , Theft and Fraud

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Georgia and federal law enforcement agents are investigating a large identity theft ring alleged to have cloned numerous credit cards in the Athens Georgia area. Investigators allege that the ring was led by Vikas Yadav from his home in Clarke County. According to law enforcement, Yadav was able to obtain credit card numbers through his employment at a local liquor store.

The Athens Banner Herald has the story. The article also contains a link to the search warrant obtained by the Athens Georgia police and U.S. Secret Service agents involved in the investigation.

No arrests have been made in Georgia, although Yadav has been arrested and charged in federal court in Mississippi. Other arrests have been made in North Carolina and Atlanta. Considering the fact that the alleged conspiracy appears to involve multiple states, all of the people arrested will likely face federal fraud charges.

Our firm has recently handled many identity theft and fraud cases in federal court in Atlanta and other parts of Georgia. The punishment for this type of offense can be severe. The amount of time in custody usually depends on the total amount of money involved. The federal sentencing guidelines also call for significant sentencing enhancements in fraud cases when identify theft is involved.

The investigation in this case remains pending.

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Posted In: Federal Criminal Law , Theft and Fraud

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A new mortgage fraud indictment was returned in federal court in Atlanta last week.

The new indictment alleges a mortgage fraud scheme involving the purchase of condos on Memorial Drive in Atlanta. The government alleges that the scheme involved fraudulently inflated appraisals. One of those charged is a former IRS employee.

The Atlanta Journal Constitution has the story.

There have been several large federal mortgage fraud prosecutions in Atlanta over the past few years. Our firm has been involved in many of them. We have represented closing attorneys, mortgage brokers, appraisers, investors and the inevitable "straw buyers." The alleged losses have been staggering, usually in the many millions of dollars.

While the government has been mostly successful in these prosecutions, defense lawyers who have represented defendants in these cases often try to point the finger at the lenders who were accepting obviously false loan applications and inflated appraisals without question. There's no doubt that mortgage lenders had a role in the rampant fraud that plagues the residential mortgage industry, especially in the so-called "sub-prime" market. The lenders were approving loans left and right with little concern if the borrowers later defaulted. While that sounds strange, the fact is that most lenders sell the mortgage on the secondary market shortly after the borrower closes on the property. At that point, it's someone else's problem.

But a false statement is still a false statement, and we expect both federal and state prosecutors in Georgia to continue to purse mortgage fraud indictments. There is certainly no shortage of foreclosed properties to review.

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Posted In: Federal Criminal Law , Theft and Fraud

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