David Saks: April 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

CALIFORNIA MAN NETS 34 MONTHS IN PRISON FOR $3.3 MILLION MORTGAGE FRAUD

California Man Sentenced to 34 Months for $3.3 Million Mortgage Fraud

U.S. Attorney’s Office April 13, 2012
  • Eastern District of Virginia (703) 299-3700
 
 

ALEXANDRIA, VA—Peter B. Neathery, 38, of Los Angeles, California, was sentenced today to 34 months in prison, followed by five years of supervised release, for his role in a mortgage fraud scheme that caused more than $3.3 million in losses.

Neil H. MacBride, United States Attorney for the Eastern District of Virginia; James W. McJunkin, Assistant Director in Charge of the FBI’s Washington Field Office; and Daniel Cortez, Inspector in Charge of the Washington Division of the United States Postal Inspection Service, made the announcement after sentencing by United States District Judge T. S. Ellis, III.

During late 2006 and through 2007, Neathery was affiliated with two businesses that were located in Vienna, Virginia and McLean, Virginia that focused on the marketing of undeveloped, subdivided lots located in North Carolina and South Carolina. Neathery conspired with others to provide false and fraudulent employment and asset information on loan applications to financial institutions that were considering the loan applications of prospective lot purchasers referred by Neathery and others.

Court documents list at least 11 properties that Neathery financed through these fraudulent practices, all of which eventually resulted in foreclosure. He was ordered to pay $3,384,958 in restitution to the five financial institutions that suffered losses due to his fraud.

This case was investigated by the FBI’s Washington Field Office and the United States Postal Inspection Service. Assistant United States Attorney Mark D. Lytle is prosecuting the case on behalf of the United States.

A copy of this press release may be found on the website of the United States Attorney’s Office for the Eastern District of Virginia at http://www.justice.gov/usao/vae.

source: FBI



David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • April 16 2012 10:26AM
CALIFORNIA MAN NETS 34 MONTHS IN PRISON FOR $3. 3 MILLION MORTGAGE…
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