(LoanSafe.org) - Last Friday it was reported that Parkland, Florida defendant Anson Joachin was sentenced for his role in a multi-million-dollar mortgage fraud scheme. Joachin was also ordered to pay $2,352,310 in restitution by US District Judge Ursula Ungaro.
John Fisher, a licensed mortgage broker of Florida, Tracey Balli, a loan processor, Delano McLennon a straw buyer in the scheme, and Justina Bryan, another loan processor were all accomplices in the fraudulent act. These partners in home loan crime were all sentenced in the case before Joachin. Fisher was sentenced to 20 months in prison, was ordered to pay $1,614,927 in restitution and had to give up his mortgage broker license. Balli got a sentence of 3 years probation, one year of home detention and was ordered to pay a 1,187,082 fine in restitution. McLennon was sentenced to three years probation, six months of home detention and was ordered to pay $489,405 in restitution of being part of the scheme. Bryan got three years probation, one year of home detention and was ordered to pay $1,165,227 in restitution.
Joachin and Fisher had before pled guilty to conspiracy to commit mail and wire fraud and to one count of mail fraud, respectively, in violation of Title 18, United States Code, Sections 1349 and 1341 in connection with a mortgage fraud scheme. Balli, Bryan and McLennon previously pled guilty to one count of making false statements on a HUD-1 Real Estate Settlement Form in connection with a mortgage fraud scheme, in violation of Title 18, United States Code, Section 1001.
Court records reveal that the five defendants engaged in a fraud scheme that would make them rich. They had planned to fraudulently cause houses in Fort Lauderdale, Jupiter, Cape Coral, and Royal Palm Beach, Florida to be purchased and then sold through straw buyers who attained high value mortgage loans based upon falsified mortgage loan applications. Joachin was essentially the orchestrator of the whole scheme, while Fisher was a licensed broker Balli and Bryan were both loan processors. McLennon was one of the many straw buyers who had joined in on the scheme.
To get the loans they needed for the properties, the defendants submitted fraudulent documents to multiple lenders across the country. The defendants had acquired approximately $2,350,000 in loans.
Having good credentials in the group could have contributed to the defendants motives of going through with the scheme. They clearly thought like everyone else that they wouldn’t be caught. Here on LoanSafe.org we see people nearly every week getting caught for fraud. This, like every other FBI report is a message that no matter how good you are at what you do, you’re going to get caught for breaking the law for your own selfish greed.