White-Collar Mortgage Crime Ends With 10 Sentenced
According to the Denver Business Journal, a Nigerian national has been deemed the ringleader in a multimillion-dollar mortgage fraud scheme. The 45-year-old was sentenced to 30 years in prison for the scheme, and will be deported back to Nigeria once his prison sentence is completed. The man was convicted on a total of four felony counts, and, along with nine others, was deemed responsible for, according to Attorney General John Suthers, “one of the most expansive and heinous mortgage fraud rings [ever] seen in Colorado.”
Charges involved in this case ranged from forgery to theft and computer crime. A total of 34 real estate deals were connected to these crimes with false invoices, the establishment of shell corporations, and a host of inaccurate information being exchanged with mortgage lenders (in order to acquire larger mortgages) all being utilized in the deception. These infractions, while not violent, are still criminal acts, and are often labeled as white-collar crimes. Typically, the theft or unlawful obtaining of information is deemed as a white-collar infraction, and such charges can be just as harsh as those associated with violent crimes. Particularly since white-collar crimes tend to be committed in tandem with one another, linking multiple charges together can result in harsher, compounded sentences.
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