Former Mortgage Broker, California Woman Plead Guilty to Mortgage Fraud

Beth Phillips, United States Attorney for the Western District of Missouri, announced today that two more defendants have pleaded guilty in federal court to charges related to mortgage fraud schemes, including a $12.6 million conspiracy that involved 25 upscale residential properties in Lee’s Summit, Missouri and Raymore, Missouri and a property-flipping scheme in Kansas City, Missouri.

Cynthia D. Jordan, 43, of Lee’s Summit, pleaded guilty before U.S. District Judge Howard F. Sachs on Friday, May 21, 2010, to mail fraud and wire fraud. Jordan, who was a mortgage loan broker for various mortgage brokers in the Kansas City area, admitted that she participated in a property flipping scheme. Anahit Nshanian, 30, of Long Beach, California, pleaded guilty before U.S. Magistrate Judge John T. Maughmer on Thursday, May 20, 2010, to her role in the $12.6 million conspiracy.

Jordan and Nshanian are among 18 defendants, all of whom have now pleaded guilty.

Jordan admitted that she was involved in a scheme to flip properties — buying residential properties that could immediately be sold in flip transactions for substantially more than the purchase price, without improvements to the properties. Jordan obtained mortgage loans to purchase the properties by submitting fraudulent documentation and making false representations. Jordan falsely represented that she would occupy the homes as her primary residence. As a result of the scheme, Jordan obtained money from the loan proceeds and directed loan proceeds be paid to others under the guise of false invoices and other false documents.

As part of the scheme, Jordan purchased a Kansas City property for $355,000. At the time she entered the contract, she and co-conspirators planned to sell the property before a mortgage payment was due so that she did not have to make a loan payment. Jordan signed a contract to sell the property for $555,000 five days later, for which she received $17,500. Two co-conspirators, as a result of submitting fraudulent invoices, received a total of $172,974.

Jordan also purchased another Kansas City property for $537,000 that she agreed to sell within six days of her purchase for $775,000. Jordan received $17,173 and two co-conspirators, as a result of submitting fraudulent invoices, received a total of $193,000.

Under the terms of today’s plea agreement, the government and Jordan agree that the sentence imposed should not exceed nine years in federal prison without parole. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

Nshanian admitted that she was involved in a scheme to buy and sell new homes — all of which were built by Jerry R. Emerick, 40, of Raymore — in the Raintree and Belmont Farms subdivisions in Lee’s Summit and the Eagle Glen subdivision in Raymore from February 2005 through May 2007. Buyers purchased the homes at inflated prices, obtaining mortgage loans for more than the actual sale price by providing false information to mortgage lenders, then kept the extra proceeds. Buyers created shell companies for the purpose of receiving those kickbacks from Emerick, with kickbacks of up to $125,000 on each house. Emerick pleaded guilty to his role in the conspiracy and awaits sentencing.

In total during the course of the conspiracy, mortgage lenders approved loans for 25 homes totaling more than $12.6 million. From that total, buyers received approximately $2.3 million without the lenders’ knowledge. Nshanian received approximately $148,614 in kickbacks.

Nshanian purchased two properties in Lee’s Summit as part of the conspiracy. In obtaining mortgage loans, Nshanian made material misrepresentations upon which the lenders relied. Nshanian also admitted that she received money back unbeknownst to the lenders.

Nshanian received a $510,000 loan for one property; after closing, she received an $89,307 kickback, of which co-defendant Jerome Shade Howard, 41, of Anaheim, Calif., received $20,693. Nshanian received a $657,500 loan for another property; after closing, she received a $80,000 kickback and Howard received $25,000.

Under federal statutes, Nshanian is subject to a sentence of up to five years in federal prison without parole, plus a fine up to $250,000 and an order of restitution. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorneys Linda Parker Marshall and Kathleen D. Mahoney. It was investigated by the Federal Bureau of Investigation and IRS-Criminal Investigation.

Print Friendly, PDF & Email

31 comments to Former Mortgage Broker, California Woman Plead Guilty to Mortgage Fraud

  • [url=http://furosemide2017.us.com/]buy furesimide[/url]

  • Some truly nice and utilitarian info on this website, also I believe the pattern holds superb features.

  • Hi , I do believe this is an excellent blog. I stumbled upon it on Yahoo , i will come back once again. Money and freedom is the best way to change, may you be rich and help other people.

  • [url=https://azithromycinotc.com/]azithromycin purchase usa[/url] [url=https://ventolininhaler.top/]cheapest ventolin online uk[/url] [url=https://albenza200.com/]order albenza online[/url] [url=https://benicarhctz.com/]cost of benicar 40 mg[/url] [url=https://viagra100mg.top/]cheap generic viagra online pharmacy[/url]

  • I do accept as true with all the ideas you’ve presented on your post. They are very convincing and will certainly work. Nonetheless, the posts are very short for starters. May just you please prolong them a little from next time? Thanks for the post.

  • After study just a few of the blog posts in your web site now, and I actually like your means of blogging. I bookmarked it to my bookmark web site list and will be checking again soon. Pls try my website as nicely and let me know what you think.

  • I’m so happy to read this. This is the type of manual that needs to be given and not the random misinformation that is at the other blogs. Appreciate your sharing this greatest doc.

  • You are my intake, I have few blogs and infrequently run out from to post .

  • [url=https://azithromycinz.com/]azithromycin 500 mg tablet price in india[/url]

  • I’d have to examine with you here. Which is not one thing I usually do! I take pleasure in reading a post that may make folks think. Additionally, thanks for permitting me to comment!

  • Just wanna input that you have a very nice site, I like the style and design it really stands out.

  • I like what you guys are up also. Such smart work and reporting! Keep up the superb works guys I have incorporated you guys to my blogroll. I think it’ll improve the value of my web site :)

  • I enjoy you because of your own work on this web site. Kim enjoys managing investigations and it’s really easy to see why. Almost all know all regarding the powerful medium you render good steps through the blog and as well improve contribution from other people on that matter so our simple princess has been becoming educated a whole lot. Have fun with the rest of the year. You are always doing a wonderful job.

  • you’re actually a just right webmaster. The web site loading speed is incredible. It seems that you’re doing any distinctive trick. Furthermore, The contents are masterwork. you have performed a wonderful job on this subject!

  • I like this web blog very much so much good information.

  • [url=http://furosemide365.us.com/]furosemide tablets[/url] [url=http://prednisone365.us.com/]10 mg prednisone daily[/url] [url=http://azithromycin20.com/]azithromycin 500[/url] [url=http://sildenafilcitrate100mg.us.com/]sildenafil 100[/url] [url=http://azithromycin360.com/]azithromycin for sale cheap[/url]

  • [url=http://flagyl24.com/]flagyl 250mg[/url] [url=http://elavilamitriptyline.com/]elavil pills[/url] [url=http://prednisone365.us.com/]prednisone 20mg tablets[/url] [url=http://azithromycinz.com/]azithromycin otc[/url] [url=http://advair365.us.com/]advair diskus[/url] [url=http://benicarhctz.com/]benicar hctz[/url]

  • I don’t even know how I ended up here, but I thought this post was good. I do not know who you are but certainly you are going to a famous blogger if you aren’t already ;) Cheers!

  • Unquestionably believe that which you stated. Your favorite reason appeared to be on the web the easiest thing to be aware of. I say to you, I certainly get irked while people think about worries that they plainly do not know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people can take a signal. Will probably be back to get more. Thanks

  • [url=https://sildalistab.com/]sildalis without prescription[/url] [url=https://advair365.us.com/]advair diskus coupon[/url] [url=https://viagra100mg.top/]viagra 100mg[/url] [url=https://prednisone365.us.com/]prednisone 10 mg price[/url] [url=https://azithromycintab.com/]buy azithromycin[/url]

  • Exactly what I was looking for, regards for posting.

  • I have been exploring for a little for any high-quality articles or weblog posts on this sort of house . Exploring in Yahoo I eventually stumbled upon this web site. Reading this information So i am glad to show that I’ve an incredibly good uncanny feeling I discovered exactly what I needed. I so much undoubtedly will make sure to do not put out of your mind this website and provides it a glance on a relentless basis.

  • I got what you mean , thankyou for putting up.Woh I am thankful to find this website through google.

  • [url=http://prednisone365.us.com/]prednisone 20 mg[/url] [url=http://furosemide2017.us.com/]buy furesimide[/url] [url=http://toradoliv.com/]buy toradol online canada[/url] [url=http://advair365.us.com/]advair cost in canada[/url]

  • [url=http://amitriptylineelavil.com/]buy amitriptyline[/url] [url=http://viagra100mg.top/]buy viagra 100mg[/url] [url=http://zithromax250.com/]zithromax 250 mg[/url] [url=http://citalopramhbr.com/]citalopram hydrobromide 40mg[/url] [url=http://furosemide365.us.com/]buy generic furosemide[/url] [url=http://advair365.us.com/]advair diskus[/url]

  • [url=http://toradoliv.com/]generic toradol price[/url] [url=http://elavilamitriptyline.com/]elavil price[/url] [url=http://zithromaxpak.com/]zithromax cost[/url] [url=http://zithromax911.com/]zithromax[/url] [url=http://amitriptylineelavil.com/]buy amitriptyline[/url]

  • [url=http://furosemide365.us.com/]furosemide 80 mg tablet[/url] [url=http://toradoliv.com/]toradol price[/url] [url=http://albenza200.com/]buy albenza[/url] [url=http://elavilamitriptyline.com/]buy elavil[/url] [url=http://zithromaxmed.com/]zithromax tablets for sale[/url] [url=http://flagyl24.com/]flagyl antibiotics[/url] [url=http://zithromaxpak.com/]zithromax z-pak[/url]

  • Perfectly pent articles, thanks for selective information. “No human thing is of serious importance.” by Plato.

  • [url=http://stromectolpill.com/]ivermectin tablets[/url] [url=http://retina05.com/]buy retin a no prescription[/url] [url=http://atarax1.com/]atarax cost[/url] [url=http://arimidex365.com/]arimidex[/url] [url=http://synthroidth.com/]synthroid 0.15[/url] [url=http://amoxiciline.com/]amoxicillin 500 mg pill[/url] [url=http://doxycycline3.com/]doxycycline brand name canada[/url] [url=http://tadalafilcial.com/]can you buy tadalafil over the counter[/url] [url=http://cipro24.com/]cipro ciprofloxacin[/url] [url=http://stromectol24.com/]stromectol tablets[/url]

  • [url=http://acyclovir24.com/]acyclovir 400 mg price in india[/url]

  • [url=https://allopurinol24.com/]buy allopurinol[/url] [url=https://albuterol2020.com/]albuterol inhaler[/url] [url=https://colchicine100.com/]colchicine 0.6 mg generic[/url] [url=https://stromectolpill.com/]ivermectin buy canada[/url] [url=https://ivermectin3.com/]how to buy stromectol[/url]

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>