From MND:

The current vice president of the Hells Angels’ Sonoma (CA) Chapter has to serve a year in jail and pay $130,000 in restitution to SunTrust Mortgage for his role in a mortgage fraud scheme.

Josh Johnson pleaded guilty in December 2011 to wire fraud. According to his plea agreement, Johnson admitted that from 2006 until 2007, he was involved in a conspiracy with others to fraudulently obtain mortgage loans.

In May 2007, the defendant signed loan applications containing false statements for real property in Healdsburg, Calif. These inaccurate statements caused interstate wire transfers of loan funds from mortgage lenders directly to Johnson’s account.

Some examples of the false statements contained in the loan applications included that Johnson was the owner of a fictitious company for several years and making a large and recurring salary.

The documents supporting the loan applications also contained altered bank statements in Johnson’s name to reflect a series of inflated balances in his bank account.

The loan applications Johnson submitted ultimately resulted in a loss to the lender of approximately $135,000, though the amount of loss in the overall conspiracy is at least several million dollars.

 

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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