Court records show that on November 5, 2009 Gary Mark Wood pled guilty to an Information in relation to his involvement in a North Carolina mortgage fraud case. He was involved in the onging mortgage fraud investigations by the FBI in NC which involve five “mortgage fraud cells”.

Wood was the owner of Gary Wood Construction and has admitted that he was part of Mortgage Fraud Cell No.4, and he:

• Agreed to sell property to other cell members at a set price
• The cell would then arrange to cell properties at an inflated price usually between $200,000 and $500,000 more than the true value
• Wood would sell the property to the buyer for the inflated price
• a loan would be made by a lender based on the inflated price
• The difference between the true price and the inflated price would be extracted at closing and shared among the cell members.

The guilty plea is not available on PACER (locked) but the docket shows that on 11/5/2009 it was filed in the Western District of North Carolina under ref 3:2009cr00208.