In the following press release John M. Bales, United States Attorney for the Eastern District of Texas announced that Pierre Sowell, 37, of Dallas, was indicted by a federal grand jury in Plano for several counts of mail fraud and conspiracy to commit mail fraud in connection with a mortgage fraud scheme. According to the indictment, Sowell and an unindicted, unnamed co-conspirator are alleged to have engaged in a scheme to make false statements to mortgage lenders to obtain mortgage loans for Sowell to enable him to purchase three residences. The indictment alleges that Sowell and the unnamed co-conspirator caused several false statements to be made in each of the loan applications that were submitted to the mortgage lenders. Two of the homes were located in Collin County and the other in Dallas County. Sowell faces up to 20 years in federal prison if convicted.

This case is being investigated by the Internal Revenue Service and prosecuted by Assistant U.S. Attorney J. Andrew Williams.