Press Releases
Title
October 16 , 2006
FOR IMMEDIATE RELEASE
Dunn Lampton, United States Attorney for the Southern District of Mississippi; John G. Raucci, Special Agent in Charge of the Jackson Field Office of the Federal Bureau of Investigation; and Rodney E. Clarke, Special Agent In Charge of the Internal Revenue Service-Criminal Investigation, New Orleans Field Office, announced that LORETTA JOY CHAMP pled guilty today for her part in a mortgage fraud conspiracy involving properties in Hattiesburg and Laurel.
As part of her plea, Champ admitted to conspiring with Richard Lucas, who is charged, along with seven others, in a conspiracy to commit bank and wire fraud. During her plea today, Champ acknowledged that during the time frame of the conspiracy, she was a member of a real estate appraisal business known as J&J Appraisal Services. Her partner in this business was Jacqueline Mosley, who was charged separately and pled guilty in March to conspiracy to commit mail and wire fraud. Champ admitted that, at various times during the period of the conspiracy in this case, she prepared false appraisals for real property to be acquired by associates and clients of Richard Lucas. These inflated appraisals gave the false impression that the properties were worth more than they actually were, which led financial institutions to lend more than they would have had they known the true value of the properties. Champ was aware these false appraisals were being used to enhance the amount loaned for properties of associates and clients of Richard Lucas.
Assistant United States Attorneys Gaines Cleveland and Glenda Haynes are the prosecutors in charge of the case. Mr. Lampton praised the efforts of the Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation for their diligent work in the investigation of this case.
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