Henry Broussard Press Release (Guilty Plea)

January 7, 2008
For Immediate Release

LOCAL MAN PLEADS GUILTY TO FRAUD CHARGES IN CONNECTION WITH A MORTGAGE FRAUD SCHEME

St. Louis, MO: Henry Broussard pled guilty to mail fraud charges in connection with a mortgage fraud scheme, United States Attorney Catherine L. Hanaway announced today.

“The unfortunate reality is that the type of outrageous, abusive conduct to which Mr. Broussard has admitted is commonplace,” said Hanaway. “Fraudsters like this have destabilized the real estate market, the banking industry and the broader economy. Federal, state and local law enforcement continue to work diligently to root out mortgage fraud and my office is committed to prosecute these cases with the vigor and tenacity this crisis demands.”

Broussard admitted to fraudulently obtaining a loan of approximately $60,000 from Wells Fargo Home Mortgage. In all, Broussard admitted his fraudulent activities involved in excess of $120,000 of actual and intended losses. Specifically, Broussard admitted to using phony gift letters to convince mortgage lenders that buyers were financially suitable to purchase properties owned by Broussard, when in fact he had provided the funds to satisfy down payment requirements of various lenders.

HENRY BROUSSARD of St. Louis pleaded guilty to mail fraud in connection with a mortgage fraud scheme before U.S. District Court Judge Henry E. Autrey.

At sentencing, which is set for April 2, 2009, Broussard faces up to 20 years in prison and a fine of up to $250,000. Broussard will also be ordered to make restitution to any victims suffering financial losses as a result of his conduct.

Last November, U.S. Attorney Hanaway convened the first meeting of the U.S. Attorney’s Mortgage Fraud Task Force. The task force consists of over 70 residents of the Eastern District of Missouri involved in banking, mortgage brokerage, real estate sales, title insurance, real estate appraising, as well as federal, state and local law enforcement, regulatory officials and non-government organizations. Anyone wishing to report suspected mortgage fraud or participate in the work of the task force is encouraged to call the Mortgage Fraud hotline at 1-866-587-9571.

UNITED STATES ATTORNEY'S OFFICE EASTERN DISTRICT OF MISSOURI CATHERINE L. HANAWAY United States Attorney	NEWS RELEASE
For further information: Call Public Affairs Officer Jan Diltz at (314) 539-7719
January 7, 2008 For Immediate Release LOCAL MAN PLEADS GUILTY TO FRAUD CHARGES IN CONNECTION WITH A MORTGAGE FRAUD SCHEME St. Louis, MO: Henry Broussard pled guilty to mail fraud charges in connection with a mortgage fraud scheme, United States Attorney Catherine L. Hanaway announced today. “The unfortunate reality is that the type of outrageous, abusive conduct to which Mr. Broussard has admitted is commonplace,” said Hanaway. “Fraudsters like this have destabilized the real estate market, the banking industry and the broader economy. Federal, state and local law enforcement continue to work diligently to root out mortgage fraud and my office is committed to prosecute these cases with the vigor and tenacity this crisis demands.” Broussard admitted to fraudulently obtaining a loan of approximately $60,000 from Wells Fargo Home Mortgage. In all, Broussard admitted his fraudulent activities involved in excess of $120,000 of actual and intended losses. Specifically, Broussard admitted to using phony gift letters to convince mortgage lenders that buyers were financially suitable to purchase properties owned by Broussard, when in fact he had provided the funds to satisfy down payment requirements of various lenders. HENRY BROUSSARD of St. Louis pleaded guilty to mail fraud in connection with a mortgage fraud scheme before U.S. District Court Judge Henry E. Autrey. At sentencing, which is set for April 2, 2009, Broussard faces up to 20 years in prison and a fine of up to $250,000. Broussard will also be ordered to make restitution to any victims suffering financial losses as a result of his conduct. Last November, U.S. Attorney Hanaway convened the first meeting of the U.S. Attorney’s Mortgage Fraud Task Force. The task force consists of over 70 residents of the Eastern District of Missouri involved in banking, mortgage brokerage, real estate sales, title insurance, real estate appraising, as well as federal, state and local law enforcement, regulatory officials and non-government organizations. Anyone wishing to report suspected mortgage fraud or participate in the work of the task force is encouraged to call the Mortgage Fraud hotline at 1-866-587-9571.