July 9th, 2008
Local Minister Has Bond Revoked and Taken into Federal Custody
Memphis, TN - Steve Young, minister at Ardmore Terrace Baptist Church in Frayser, was taken into custody yesterday by Deputy U.S. Marshals after United States Magistrate Judge Gerald B. Cohn ordered his bond revoked announced Lawrence J. Laurenzi, Acting United States Attorney for the Western District of Tennessee.
On March 20, 2007, Young was indicted for Mail Fraud and Wire Fraud charges related to schemes to defraud mortgage companies. On Sept, 11, 2007, Young pled guilty to count one of the indictment charging Wire Fraud. He was released on bond pending the sentencing.
According to the Motion to Revoke Bond and testimony in the bond revocation hearing, Sgt. Frank Amato, of the Memphis Police Department, stated that Young allegedly had been involved in mortgage fraud and in defrauding members of his congregation at Ardmore Terrace Baptist Church. Sgt. Amato testified that members of the church had filed police reports which alleged that Young had obtained mortgages on residential properties using the identities of the church members without their knowledge. They discovered this when they ran a credit check on themselves and found mortgages in their name. Testimony in court further alleges that the church members had no knowledge of the mortgages or lived in the residences purchased by Young using the corporate name of Apex Mortgage. They also advised they did not sign the closing documents and their signatures were forged.
The Magistrate revoked Young’s bond and remanded him to the Custody of the U. S. Marshal to protect the public from additional acts of fraud committed by Mr. Young.
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