David Saks: Loan Officer Pleads Guilty to Conspiracy to Commit Wire Fraud

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

Loan Officer Pleads Guilty to Conspiracy to Commit Wire Fraud

Loan Officer Pleads Guilty to Conspiracy to

Commit Wire Fraud

U.S. Attorney’s Office July 30, 2014
  • Eastern District of Tennessee (865) 545-4167

KNOXVILLE, TN—On July 29, 2014, Paulynn Wright, 42, of Knoxville, Tenn., pleaded guilty in U.S. District Court for the Eastern District of Tennessee at Knoxville, to conspiracy to commit wire fraud. Sentencing has been set for 2:00 p.m., on Dec. 3, 2014, before the Honorable Thomas A. Varlan, Chief U.S. District Judge.

Wright faces a potential term of up to 20 years in prison, along with the forfeiture of any proceeds of the offense and the obligation to pay restitution.

In a plea agreement on file with the U.S. District Court, Wright admitted to conspiring with co-defendants Joyce Allen, Kay Thomas and Dona Rector to obtain a mortgage loan by providing false information to a lender. This information consisted of an asset verification letter from Allen that falsely stated that Wright had an investment with Benchmark Capital.

The indictment against Wright was the result of an investigation by the Internal Revenue Service, U.S. Postal Inspection Service, and Federal Bureau of Investigation. Assistant United States Attorney Frank M. Dale, Jr. represents the United States.

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Comment balloon 4 commentsDavid Saks • July 30 2014 01:12PM

Comments

David, I'm sure we're still at the leading edge of what will continue to be a major shakedown of individuals responsible for these type of schemes. 

Posted by Adrian Willanger, Profit from my two decades of experience (206 909-7536 AdrianWillanger-broker.com) over 5 years ago

Adrian, if you click this button

you'll see that the leading edge is already longer than the Golden Gate Bridge.

Posted by David Saks ((retired)) over 5 years ago

lots of fraud still happens.... I was hoping the new rules would change that, but there will always be bad apples!

Posted by Sheila Newton Team Anderson & Greenville SC, Selling the Upstate since 1989 (Berkshire Hathaway HomeServices - C. Dan Joyner) over 5 years ago

It sure does, Sheila, and it'll continue as long as criminals can find the loopholes they need to break the rules.

Posted by David Saks ((retired)) over 5 years ago

This blog does not allow anonymous comments