FOR IMMEDIATE RELEASE:
MONDAY - January 11, 2010
RALEIGH WOMAN PLEADS GUILTY IN MORTGAGE FRAUD CONSPIRACY
GREENVILLE - The United States Attorney’s Office announced that in federal court January 8, 2010, MARY ROSE WRIGHT, 43, of Raleigh, North Carolina, pled guilty before United States Magistrate Judge David W. Daniel to wire fraud and conspiring to commit mail fraud, wire fraud, and bank fraud.
A Criminal Information was filed on November 23, 2009. According to the Information, from August, 2006, to November, 2006, WRIGHT, working as a mortgage broker for Fairway Mortgage, worked with others to defraud various financial institutions through the submission of false and fictitious mortgage loan applications. Using a falsified Power of Attorney giving authority on behalf of a co-conspirator to execute all documents in connection with the property purchase, WRIGHT then prepared false United States Individual Income Tax Returns for years 2004 and 2005 and a self-employment verification letter and caused to have prepared a fabricated financial statement to use in obtaining the property. She then submitted an offer to purchase a property.
On November 27, 2006, WRIGHT submitted a loan application, which included false representations regarding borrower’s address, employment, bank account information, and rental real estate schedule, in connection with the purchase of the residential Raleigh property. That same day Equity Services, Inc., loaned a co-conspirator $1,537.500 for the property purchase.
In November, 2006, WRIGHT’s co-conspirator gave her $120,000 from a previously fraudulently obtained mortgage loan from Washington Mutual in the amount of $2,996,969 to be used as a down payment for the purchase of the Raleigh property. On November 27, 2006, WRIGHT took possession of the property after executing a HUD-1 statement containing false and fraudulent information. To date, no mortgage payments have been made.
"In recent years we have seen how pervasive bank fraud has become and how devastating it has been to our banking institutions and our economy. This guilty plea is another step in the Justice Department's effort to deal with this problem and to ensure integrity in our financial systems," stated John Stuart Bruce, Acting United States Attorney.
Investigation of this case was conducted by the Internal Revenue Service - Criminal Investigation Division, the North Carolina State Bureau of Investigation and the North Carolina Real Estate Commission. This case is being handled by the Office’s Economic Crimes Section, with Assistant United States Attorney Banumathi Rangarajan assigned as prosecutor.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.