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Department of Justice United States Attorney Candace G. Hill Contact: Dawn Masden |
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September 25, 2009
LOUISVILLE MORTGAGE BROKER INDICTED FOR MORTGAGE FRAUD
– two co-conspirators previously pleaded guilty
LOUISVILLE, KY - Richard Hild, age 38, of Louisville, Kentucky was arraigned today, announced United States Attorney Candace G. Hill of the Western District of Kentucky. A federal grand jury in Louisville, Kentucky previously returned an indictment on September 23, 2009 charging Hild with one count each of stealing, conspiracy to commit wire and mail fraud.
The Indictment alleges that from June 2007 through February 2008, Hild while working as a mortgage broker, conspired with others to fraudulently obtain residential mortgage loans by misrepresenting the financial information of borrowers, and by providing fraudulent documents in support of loan applications, and during the course of the conspiracy, used and caused to be used interstate wires and the United States mail. Two of Hild’s co-conspirators Michael Otis and Chris Whitfield previously pleaded guilty to felony Informations containing similar charges. The conspiracy involved fraudulent loans to which the co-defendants pleaded guilty involved 34 loans totaling over $10 million. A sentencing date has not yet been set for Whitfield or Otis.
In the event of a conviction, the maximum potential penalties are 20 years’ imprisonment, a $250,000 fine, and supervised release for a period of 3 years.
The case is being prosecuted by Assistant United States Attorney Bryan R. Calhoun, and it was investigated by the United States Postal Inspection Service and the United States Secret Service.
The matter is currently schedule for a jury trial on November 3, 2009, in Louisville, Kentucky.
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The indictment of a person by a Grand Jury is an accusation
only and that person is presumed innocent until and unless
proven guilty.
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