UNITED STATES ATTORNEY JOYCE WHITE VANCE NORTHERN DISTRICT OF ALABAMA
	FOR IMMEDIATE RELEASE			CONTACT: STACY CRANE
	JULY 1, 2009			PHONE: (205) 244-2001
	www.usdoj.gov/usao/aln			FAX: (205) 244-2171

           GADSDEN WOMAN  CHARGED IN FEDERAL COURT WITH WIRE FRAUD AND MORTGAGE FRAUD

            BIRMINGHAM, AL - United States Attorney Joyce White Vance of the Northern District of Alabama and Charles E. Regan, Acting Special Agent in Charge, Federal Bureau of Investigation, announced today that KATRINA MICHELLE FLAMBO, 36, of Gadsden, Alabama has been indicted by a federal grand jury for one count of wire fraud and one counts of making false statements on a mortgage application to a financial institution.

            Count one charges Flambo with wire fraud and count two charges Flambo with making false statements to a financial institution. In November of 2007, Flambo applied for a mortgage loan with countywide financial corruption. Flambo overvalued the amount of profit her business made in order to receive the loan. 
 
            The maximum sentence for counts one and two is not more than 30 years imprisonment and a $1,000,000 fine for each count.

            Special agents of the Federal Bureau of Investigations investigated this case.  Assistant United States Attorney Patrick Carney is prosecuting this case.

            Members of the public are reminded that the indictment contains only charges.  A defendant is presumed innocent of the charges and it will be the government’s burden to prove a defendant’s guilt beyond a reasonable doubt at trial.      

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