Owner of Mortgage Company and Four Others Sentenced on Mortgage Origination Fraud Charges
PHOENIX – On Feb. 11, 2015, Kevin Grant Lee, 35, formerly of Mesa, was sentenced by U.S. Senior District Judge Roslyn O. Silver to 12 months in federal prison, followed by five years of supervised release, for his role in assisting his brother, Scott Thomas Lee, in committing mortgage loan origination fraud. Late last year, Judge Silver sentenced Scott Thomas Lee, 46, former owner of Summit Capital Mortgage, LLC, to 60 months in federal prison, followed by five years of supervised release. The brothers previously pleaded guilty to conspiring together and with others to commit mortgage fraud involving high-end residential loans and custom-home construction loans. Both were also ordered to pay millions in restitution to lenders.
Scott Lee owned and operated Summit Capital, located in Mesa where he employed Kevin Lee and several other family members. Leading up to the real estate crash of 2008, Summit Capital specialized in high-end residential mortgage loans and custom-home construction loans. Through Summit Capital, Scott Lee and Kevin Lee originated dozens of fraudulent loans by providing false information on loan applications, forging signatures, and creating false financial and construction-related documents. Summit Capital and Scott Lee received nearly $1.5 million in commissions based on these bogus loans and caused millions in losses to a variety of lenders.
Three co-conspirators who were involved in several of the fraudulent loans through their Gilbert company, The Reserve at Greenfield, LLC, also pleaded guilty and were sentenced by Judge Silver late last year. Chad Brian Kennedy, 43, of Gilbert, pleaded guilty to fraud charges based on his involvement in using a fictitious buyer on several loans, and he was sentenced to nine months in federal prison followed by three years of supervised release. Shalynn K. Loar, 43, of Gilbert, and Jackson Wesley Skousen, 42, previously of Gilbert, pleaded guilty to fraud charges based on similar activity, and each received a sentence of five years of probation with six months of home confinement. All three were also ordered to pay substantial restitution to lenders.
The investigation in this case was conducted by the FBI, Phoenix Division. The prosecution was handled by Monica Beerling Klapper, Assistant U.S. Attorney, District of Arizona, Phoenix.
CASE NUMBER: CR-13-00824-PHX-ROS
RELEASE NUMBER: 2015-013_Lee et al
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