Nehawka Woman Sentenced for Mortgage Fraud
Michala Cherek-Ramirez, 35, of Nehawka, was sentenced for conspiring to commit wire fraud in connection with a mortgage fraud scheme. The Honorable Lyle E. Strom sentenced Cherek-Ramirez to five years probation and ordered to pay restitution in the sum of $422,858.00.
Cherek-Ramirez was employed at Skyline Mortgage, a mortgage brokerage. She acquired seven mortgages for a friend for their mutual benefit. Each property was financed as a primary residence with 100 percent financing. One of the properties was her own home, mortgaged in the name of another at 100 percent financing. None of the homes, other than her own residence, was to be a primary residence. Had the mortgage companies been aware of this misrepresentation, 100 percent financing would not be available, nor would the acquisition of more than one property have been likely. All homes went into foreclosure. Various mortgage lenders lost $422,858.00 as a result of the scheme to defraud.
This matter was investigated by the Federal Bureau of Investigation.
