New Kensington Woman Charged In Mortgage Fraud Scheme
PITTSBURGH, Pa. ‑ A resident of New Kensington, Pa., has been indicted by a federal grand jury in Pittsburgh on charges of wire fraud, aggravated identity theft, filing a false tax return, and failing to file income tax returns, United States Attorney David J. Hickton announced today.
The 17-count superseding indictment named Lisa Gerideau-Williams, 44.
According to the superseding indictment presented to the Court, Gerideau-Williams was an attorney who operated a mortgage brokerage company called Genesis Home Solutions and two closing companies, Millennium Settlement Services and Professional Settlement Solutions. The superseding indictment alleges that Gerideau-Williams, using these three companies, devised and executed a mortgage fraud scheme that involved the following: submission of loan applications without the authorization of the borrowers; submission of fraudulent loan applications that overstated the borrowers' incomes and assets; the preparation of fraudulent closing documents that falsely represented that she has paid liabilities associated with the collateral; the diversion of funds that were supposed to pay liabilities associated with the collateral to her own personal use; the issuance of title insurance policies when she was not authorized by the title company to issue those title insurance policies; and the failure to record mortgages and provide other services to secure the lenders' interest in the properties serving as collateral for the loans. In addition, the superseding indictment alleges that the Gerideau-Williams filed a false tax return for the 2004 calendar year, and that she failed to file income tax returns for the 2005 and 2006 calendar years.
The law provides for a maximum total sentence of 302 years in prison, a fine of $3,950,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.
The Mortgage Fraud Task Force conducted the investigation leading to the indictment in this case. The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry. Federal law enforcement agencies participating in the Mortgage Task Force include the Federal Bureau of Investigation; the Internal Revenue Service - Criminal Investigation; the United States Department of Housing and Urban Development, Office of Inspector General; the United States Postal Inspection Service; and the United States Secret Service. Other Mortgage Fraud Task Force members include the Allegheny County Sheriff's Office; the Pennsylvania Attorney General's Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee's Office.
Mortgage industry members with knowledge of fraudulent activity are encouraged to call the Mortgage Fraud Task Force at (412) 894-7550. Consumers are encouraged to report suspected mortgage fraud by calling the Pennsylvania Attorney General's Consumer Protection Hotline at (800) 441-2555.
An indictment or information is an accusation. A defendant is presumed innocent unless and until proven guilty.