Unfortunately, the economic climate that we’ve seen over the past couple of years has led to an increase in the number of Arizona mortgage fraud cases. Mortgage fraud is a type of white collar crime where there is intent to misrepresent or omit information on a mortgage loan application usually to obtain a loan or obtain a larger loan than would have been obtained had the truth been divulged.
Mortgage fraud is taken very seriously by both the federal government and the State of Arizona. Recently, there was a mortgage fraud case involving Scottsdale and Paradise Valley mansions valued over $1 million. According to an article in the Phoenix Business Journal, the three men involved in this case pled guilty to charges of conspiracy to commit wire fraud. All three men were sentenced to federal prison; two of them received 27-month sentences and the other received a 30-month sentence.
The defendants involved in this case used individuals who pretend to be legitimate property buyers when they are really associated with a mortgage scam (also known as straw buyers). Oftentimes, a straw buyer will use an illegal, fake, or stolen I.D. in order to qualify for and purchase the high-priced property.
If you’re facing charges for a white collar crime involving Arizona mortgage fraud in the Phoenix metro area, it will be in your best interest to consult immediately with an Arizona criminal defense attorney. Since your defense in court makes a huge difference in the outcome of your case, make sure you retain someone with extensive knowledge of Scottsdale and Paradise Valley, Arizona mortgage fraud. Charlie Naegle has that experience and will work with you directly to see that your case is handled fairly while you receive the best possible outcome.
Charlie Naegle is an Arizona Criminal Defense Attorney who works with individuals in Mesa, Tempe, Chandler, Phoenix, Gilbert, Apache Junction, Scottsdale, Paradise Valley and Glendale. The Naegle Law Firm has offices in Mesa and Phoenix, for convenient access across the Phoenix metropolitan area.
Call 480-245-5550 to schedule your free, private consultation immediately.