The United States Department of Justice (USDOJ) announced this past week that Sam Ames, 33, of Charlotte, Michigan, was sentenced to eight months in prison for his role in a conspiracy to commit mortgage fraud and to pay a fine of $7,500 and restitution in the amount of $285,000 to the financial institutions defrauded.
Ames perpetuated the scam from in or about 2006 to 2007, through his dealings with CDC Investments and Hometowne Financial in connection with real estate in and around Lansing, Michigan. Ames had conspired with others which resulted in losses to mortgage lenders exceeding $550,000. He pled guilty on March 15, 2016.
According to the USDOJ, Chief U.S. District Judge Robert J. Jonker decided to sentence Ames below the recommended range of 30-37 months because he felt Ames had turned his life around since committing his crimes. But the Judge rebuffed a defense request for a probationary sentence.
While the Judge declared himself persuaded that Ames was a different person than the one who defrauded banks and mortgage companies, the Judge stated that it was important for the public to see that a prison term awaits anyone who engages in mortgage fraud as rampant as the Ames conspiracy was.