Colorado Woman Charged With Fraud for a Mortgage Loan Scam

Vicki Dillard Crowe, 32, was sentenced to five years in prison last week for her involvement in a mortgage loan fraud scam. Her sentencing not only included the 60 months behind bars, but also includes her spending an additional 3 years under supervised released and she also is required to pay back those whom she took money from during her crimes, $2,408,142.37 total. This scam led her to pocket around $1 million of the funds, which is nearly half of what the scam was able to acquire. Crowe was arrested for the crimes in April of 2010, and then received her guilty statement in trial December of 2011, and it wasn't until this week that she received her punishments.

Crowe, along with another mortgage broker, devised the plan in order to fraudulently receive funds from various financial institutions as well as commercial lenders, according to the indictment she received. It stated that from 2004-2006 her and this partner concocted a plan to receive a lot of money from these different groups by creating false promises and pretenses as well as representations of their plans for the clients. According to the records it appears as though there were 19 different properties in the Denver city that were a part of this scam.

Her and her partner would buy loans, and often she would use her husband's name in order to qualify for the loan. Many fraudulent acts were involved in the purchasing of the properties including misrepresentation, in which she would lie about her income as well as well as her employment or different assets she had, etc. Not only this, she would manipulate the person selling a property to her to "falsely inflate the sale price" and by doing so she would then receive money illegally after the transactions. Many more details were involved in the fraudulent acts of this woman, and because of that the court of law deemed her as guilty and she is now spending time in prison for her actions. If you or someone you know has been accused of a crime, fraud or anything else, contacting a criminal defense attorney is of great importance.

At the Law Offices of Freedman & Freedman we have years of experience representing clients who are in need of legal assistance, and we want to help you! When dealing with the law, your life is at stake, whether it is the possibility of 5 years or life in prison, fighting for innocence is a right that you have and we want to fight with you. Call our office today to discuss the details of your case, and we can start moving forward. We can make no guarantees for an outcome of a case, but we will do our best to adequately represent you, call today!