Massachusetts woman sentenced for role in straw buyer scheme – NMP Skip to main content

Massachusetts woman sentenced for role in straw buyer scheme

NationalMortgageProfessional.com
May 11, 2010

Elizabeth Son, a resident of Manchester-by-the-Sea, Mass., has been sentenced in federal court for her participation in a mortgage fraud scheme in 2005. United States Attorney Carmen M. Ortiz; Warren T. Banford, Special Agent in Charge of the Federal Bureau of Investigation--Boston Field Division; Robert Bethel, Inspector in Charge of the U.S. Postal Inspection Service; Susan Dukes, Special Agent in Charge of the Internal Revenue Service, Criminal Investigation--Boston Field Office; and Police Commissioner Edward Davis of the Boston Police Department, announced that Son was sentenced by U.S. District Judge Rya W. Zobel to three years of supervised release, with the first six months to be served in a half-way house, and was ordered to pay restitution in the amount of $611,000 to victim mortgage lenders. On Nov. 25, 2008 Son pled guilty to four counts of wire fraud. In 2005, Son participated in a scheme with others to defraud mortgage lenders in connection with the purchase of two properties in Dorchester by serving as a “straw” borrower on fraudulent loan applications. The case was investigated by the Federal Bureau of Investigation, the U.S. Postal Inspection Service and the Internal Revenue Service, with assistance from the Boston Police Department. It was prosecuted by Assistant U.S. Attorneys Victor A. Wild and Ryan M. DiSantis of the Ortiz’s Economic Crimes Unit and Mary Murrane of the Asset Forfeiture Unit.  For more information, visit boston.fbi.gov.
Published
May 11, 2010
Governor Appoints Marty Green To Texas Finance Commission

Green has over 30 years of high-level experience in the legal, banking, and financial services industries.

Regulation and Compliance
Jun 27, 2022
NAHB Chairman Blasts Biden Administration Over Lumber Tariffs

Says refusal to cut tariffs on Canadian lumber turns 'a blind eye to America’s housing affordability crisis .'

Regulation and Compliance
Jun 23, 2022
CFPB Director: Agency Reviewing QM Rules, Other Regulations

In a blog post, Rohit Chopra says the goal is to “more clearly communicate the agency’s expectations.”

Regulation and Compliance
Jun 21, 2022
New GSE Guidelines Challenge Condo/Co-op Lenders

Lenders have a terrible time obtaining up-to-date and accurate info from public data

Regulation and Compliance
Jun 16, 2022
10 Legal Steps Every Small Business Should Take

Stay guarded to limit your liability

Regulation and Compliance
Jun 16, 2022
The Fed Boosts Benchmark Rate By 0.75%

Increase is the largest since November 15, 1994.

Regulation and Compliance
Jun 15, 2022