7 defendants have pleaded guilty in Denver mortgage fraud case
The Editor - Ian Shuter
in Broker, Flipping, Straw Borrowers, Guilty Plea, Colorado
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The Denver Post is reporting the filing of guilty pleas on January 5, 2007 by four defendants in a mortgage fraud being prosecuted by Kenneth M. Harmon an Assistant US Attorney in Colorado.
The indictment obtained by TPG (click here to read it) reveals that a total of 7 people were charged in this case and they are:
Ronald Fontenot – a mortgage broker with First Choice Mortgage who has entered a guilty plea and owner of PIK Properties and Investments, L.L.C
Torrence James - a mortgage broker with First Choice Mortgage and Green River Mortgage who has also entered a guilty plea
Nicole Puller - a mortgage broker with Rapid Contracting Services who has entered a plea of guilty
Glenn Puller - a purchaser who has entered a guilty plea
Talita James - a purchaser who has entered a guilty plea
Taiwan Lee - a purchaser who has entered a guilty plea
Cindy Ingram - a purchaser who has entered a guilty plea
The properties mentioned in the indictment are:
14543 E.Purdue Place , Aurora
14870 E.Jefferson Avenue , Aurora
620 York Street , Denver
4625 Milwaukee Street , Denver
14052 E.Chenango Drive , Aurora
14012 E.Chenango Drive , Aurora
14062 E.Chenango Drive , Aurora
14022 E.Chenango Drive, Aurora
13972 E.Whitaker Dr.,Aurora
13982 E.Whitaker Dr. ,Aurora
14043 E.Whitaker Dr. ,Aurora
13941 E.Whitaker Dr.,Aurora
13981 E.Whitaker Dr. ,Aurora
14034 E.Whitaker Dr.,Aurora
14001 E.Whitaker Dr.,Aurora
13991 E.Whitaker Dr.,Aurora
13992 E.Whitaker Dr.,Aurora
Fontenot, Puller and James are also accused of ID Theft and paying kickbacks to straw borrowers/purchases some of whom have not been indicted.
The Post reports that according to a series of complaints and indictments, Fontenot and Torrence James, a man he met in federal prison in Colorado, recruited buyers, supplied false loan application information and arranged to buy homes “above the listed sales prices,” sometimes with Nicole Puller’s help.
Fontenot and James also set up businesses purporting to make home improvements, which they instead used to siphon money at loan closings to themselves and pay kickbacks to the buyers, an indictment in Denver’s U.S. District Court alleged. Five of the buyers were former prison inmates who bought a dozen homes in four months at The Villas at Cherry Creek, a gated community overlooking Cherry Creek State Park.
The US Attorney will be issuing a press release following sentencing of the defendants, some of whom will be sentenced on February 23, 2007.
The Editor - Ian Shuter
Troy A. Eid, United States Attorney for the District of Colorado, Terry L. Stuart, Special Agent in Charge, IRS Criminal Investigation Division, and Ron Perea, Special Agent in Charge of the U.S. Secret Service’s Denver Office, announced that TORRENCE JAMES , age 44, of Centennial, Colorado, was sentenced to serve 151 months (over 12 years) in federal prison for mortgage fraud. JAMES was sentenced by Chief U.S. District Court Judge Edward W. Nottingham.
JAMES was one of seven defendants charged as part of this mortgage fraud scheme. NICOLE PULLER was sentenced to serve 34 months in federal prison. GLENN PULLER was sentenced to serve 12 months in prison. TALITA JAMES was sentenced to serve 24 months in federal prison. TAIWAN LEE was sentenced to serve 30 months in federal prison, CINDY INGRAM was sentenced to serve 28 months in prison. RONALD FONTENOT was sentenced to serve 72 months in federal prison.
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Source: Guilty Plea in fraud probe
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