News and Press Releases

Memphis Woman Sentenced To 57 Months
In Prison For Mortgage Fraud Scheme

FOR IMMEDIATE RELEASE
February 12, 2014

Memphis, TN – Sylvia Denise Cathey, 46, of Memphis, TN, was sentenced yesterday to 57 months in federal prison following her guilty plea to one count of mail fraud and one count of money laundering, announced U.S. Attorney Edward L. Stanton III.

According to the facts alleged in the indictment and revealed in open court, Cathey was engaged in a mortgage fraud scheme that utilized third parties as “straw” buyers. As part of her plea agreement, Cathey admitted that on March 22, 2007, she knowingly sent a package of fraudulent documents to Chase Bank USA. She further admitted that on July 12, 2007, $11,517.48 was transferred to her company, Preferred Title and Escrow, as part of another fraudulent transaction.

In addition to the prison sentence, Senior U.S. District Judge Jon P. McCalla ordered Cathey to serve three years of supervised release, 300 hours of community service, and to either pay a $5,000 dollar fine or make at least $5,000 in restitution to the victims of her scheme.

This case was investigated by Internal Revenue Service-Criminal Investigations, the Federal Bureau of Investigation, and the United States Postal Inspection Service. Assistant U.S. Attorney Christopher Cotten represented the government.

# # # #

Return to Top

USAO Homepage
USAO Briefing Room
Justice 101
Victim Witness Assistance

Making sure that victims of federal crimes are treated with compassion, fairness and respect.

Law Enforcement Coordinating Committee

Training and seminars for Federal, State, and Local Law Enforcement Agencies.

Oficinas de los Fiscales de Estados Unidos En Español
Stay Connected with Twitter