David Saks: Sugar Land Woman Sentenced in Mortgage Fraud Scheme

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Sugar Land Woman Sentenced in Mortgage Fraud Scheme

Sugar Land Woman Sentenced in Mortgage Fraud Scheme

U.S. Attorney’s Office June 06, 2013
  • Southern District of Texas (713) 567-9000
 

HOUSTON—Rain Joakim-Anwa Davis, aka Jeri Lynn Hardin, 50, has been handed a 33-month federal sentence following her conviction on two counts of wire fraud, United States Attorney Kenneth Magidson announced today. Davis pleaded guilty January 22, 2013.

Davis was indicted in September 2012 along with co-defendant Sarah Michelle Black. They were accused of perpetrating a scheme to defraud lenders of mortgage loans by means of false and fraudulent information and claims made in connection with mortgage loan applications.

Specifically, Davis admitted she purchased two residential properties—one in Dallas and one in Houston. Loan funds from bank accounts of lenders were then transmitted in interstate commerce, through the Federal Reserve Bank of New York, by means of a wire communication into the bank accounts of the title companies.

As was true of most of the other loans that were part of this scheme, only the first few monthly mortgage payments were made, and the mortgage loans went into default for non-payment. More than $1.5 million in fraudulent loans were obtained as part of this mortgage fraud scheme.

U.S. District Judge David Hittner sentenced Davis today to 33 months on each count of conviction to run concurrently. Following her release from prison, she will also be required to serve three years on supervised release. The court further ordered restitution in the amount of $240,152.79.

Black also pleaded guilty in relation to this scheme and will be sentenced June 17, 2013.

The investigation leading to the charges in this case was conducted by the FBI. Assistant United States Attorney Carolyn Ferko prosecuted the case.

source: FBI



David Saks



Time&Temp Memphis

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Comment balloon 2 commentsDavid Saks • June 06 2013 01:47PM

Comments

david, All I can think of is "What were they thinking"  perhaps that they would never get caught :)

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty) about 7 years ago

They were thinking about swindling the lender, committing mortgage fraud and getting away with it, Rebecca. Now she can think about it for 33 months in a prison cell.

Posted by David Saks ((retired)) about 7 years ago

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