Couple Charged With Fraud Related To Mortgage Applications For Florida Condo
PITTSBURGH, Pa. - Two residents of Sewickley Heights, Pa., have been indicted by a federal grand jury in Pittsburgh on charges of bank fraud conspiracy, false statements, and bankruptcy fraud conspiracy, United States Attorney David J. Hickton announced today.
The seven-count indictment, returned on Dec. 20, named David F. Baker III, 62 and Beth B. Baker, 61, as defendants.
According to the indictment, both defendants conspired to defraud J.P. Morgan and Washington Mutual Bank in mortgage applications in 2005 and 2007 on a $2.5 million condominium in Sarasota, Florida.
The law provides for a maximum total sentence of 165 years in prison, a fine of $6,250,000, 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 Gregory C. Melucci is prosecuting this case on behalf of the government.
The Internal Revenue Service, Criminal Investigation conducted the investigation leading to the indictment in this case.
An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.
Protect yourself from fraud, and report suspected cases of financial fraud to local law enforcement.