A California woman was convicted Tuesday for her part in a mortgage fraud scheme that racked up $1.6 million in losses to banks, the U.S. attorney’s office in Nevada says.
Carmen Denise Mosley, 43, of Granada Hills, Calif., was convicted of conspiracy to commit bank and wire fraud and two counts of two bank fraud counts. When she is sentenced in early August, she faces up to 30 years in prison and millions of dollars in fines, the U.S. attorney’s office says.
For about a year in 2007, Mosley and accountant Zulfiya Karimova, 33, of Cupertino, Calif., caused false information to be put into buyers’ loan applications. The two got money for themselves at the closing of home sales using falsified tax paperwork and housing applications.
Financial institutions provided loans to purchase three homes around Las Vegas, according to the U.S. attorney’s office. Buyers later defaulted, and it cost loaning institutions $1.6 million.
“Over the last six years, hundreds of persons who worked in the housing and mortgage industry in Southern Nevada have been prosecuted and convicted of mortgage fraud crimes,” said U.S. Attorney Daniel Bogden. “This type of fraud has a long-lasting effect on the state economy and the perpetrators deserve to be convicted and punished.”
Karimova pleaded guilty and will be sentenced May 27.
Contact reporter Annalise Porter at firstname.lastname@example.org or 702-383-0381.