independence couple indicted for mortgage fraud
KANSAS CITY, Mo. - Beth Phillips, United States Attorney for the Western District of Missouri, announced today that a husband and wife from Independence, Mo., have been indicted for mortgage fraud.
Vavega Tialino, 61, and Toaono Tialino, 55, both of Independence, were charged in a four-count indictment returned by a federal grand jury in Kansas City, Mo., on Wednesday, July 13, 2011.
The indictment alleges that the Tialinos participated in a conspiracy to obtain multiple mortgage loans, which were approved by lenders based upon false and fraudulent representations made to the lenders, from December 2006 to Jan. 12, 2007.
According to the indictment, the Tialinos submitted false and fraudulent loan applications and supporting documents to lenders and to the title company in order to receive illegal kickbacks from the loan proceeds. The Tialinos received two loans, totaling $199,738, for the purchase of an Independence residence. In connection with the application for the two loans, the indictment says, the Tialinos submitted a false lease application and two fraudulent money orders, which falsely represented that their son was renting their existing residence.
The Tialinos also received a third loan for their existing residence, the indictment says, which was a $103,098 Federal Housing Administration-insured, cash-out, refinance loan. In their application for the mortgage loan, they allegedly omitted as liabilities the two additional loans for $199,738 that they had closed on just four days earlier. They also falsely stated that they intended to occupy the residence as their primary residence, the indictment says.
The indictment alleges that the Tialinos used the proceeds of these mortgage loans to pay off their loan on a Ford Expedition ($14,193), to pay off their previous mortgage loan ($79,287) and to receive $4,440.
In addition to the conspiracy, the Tialinos are each charged with wire fraud, mail fraud and money laundering. The indictment also contains a forfeiture allegation, which would require the Tialinos to forfeit to the government any property derived from the proceeds of the alleged violations, including a money judgment of $302,836.
Phillips cautioned that the charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.
This case is being prosecuted by Assistant U.S. Attorney Daniel M. Nelson. It was investigated by U.S. HUD-Office of Inspector General and U.S. Secret Service.