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Collin County Man Sentenced in Mortgage Fraud Scheme
SHERMAN, Texas – A 43-year-old Plano, Texas man has been sentenced for his role in a mortgage fraud scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales today.
Anthony Glen Jones pleaded guilty on Oct. 23, 2013 to bank fraud in connection with a FHA insured home loan and was sentenced to 27 months in federal prison today by U.S. District Judge Thad Heartfield. Jones was also ordered to pay restitution in the amount of $348,918.44 and submit to forfeiture of $152,795.83.
According to court documents, in October 2007, Jones devised and executed a scheme to defraud Prime Lending, a subsidiary of Plains Capital Bank, a federally insured bank. To execute the scheme, Jones used another person’s identity without their knowledge or consent to sell property located at 1626 Lipscomb Street in Fort Worth, twice within one week. With respect to the second transaction, Jones caused a fraudulent loan application package to be submitted to Prime Lending while failing to notify Prime Lending that he had already sold the same property. As a result Prime Lending funded a loan of $184,300 for the second transaction. Jones fraudulently gained $152,795.83 from this criminal conduct and caused a loss to lending institutions of about $456,601.68. Jones was indicted by a federal grand jury on Mar. 13, 2013.
This law enforcement action is part of President Barack Obama’s Financial Fraud Enforcement Task Force.
President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.The case was investigated by the U.S. Secret Service and the Federal Housing Finance Agency-Office of Inspector General. The case was prosecuted by Assistant U.S. Attorneys Christopher A. Eason and Andy Williams.