Federal jury convicts Montana man in Las Vegas mortgage fraud case

After a six-day jury trial, Nicholas Lindsey was convicted in federal court Wednesday in a $3 million mortgage fraud scheme. Lindsey, 40, of Montana, was found guilty of nine counts of wire fraud and one count of aggravated identity theft.

“Many innocent homeowners in Nevada have suffered because of this type of crime involving fraudulent residential mortgage transactions,” U.S. Attorney Daniel Bogden said in a statement. “Since 2008 when the FBI and our office made mortgage fraud prosecutions a priority, we have investigated, charged and convicted hundreds of persons for federal mortgage fraud crimes .”

Prosecutors alleged Lindsey, who was a loan officer, recruited straw buyers for an real estate investment opportunity by buying five Las Vegas-area homes.

Lindsey obtained more than $3 million in loans by causing false information to be placed in the straw buyers’ mortgage loan applications, according to prosecutors. Once the mortgages were approved, Lindsey fraudulently diverted to his bank account a portion of the proceeds disbursed from escrow .

Senior U.S. District Judge Lloyd D. George ordered Lindsey to be jailed until his July 22 sentencing.

Contact Jeff German at jgerman@reviewjournal.com or 702-380-8135. Follow @JGermanRJ on Twitter.


Rules for posting comments

Comments posted below are from readers. In no way do they represent the view of Stephens Media LLC or this newspaper. This is a public forum. Read our guidelines for posting. If you believe that a commenter has not followed these guidelines, please click the FLAG icon next to the comment.


Due to an increase in uncivil behavior and dialogue the Review-Journal has temporarily disabled the comment boards. The Review-Journal will use the time to evaluate the effectiveness of the comment boards and find an appropriate time to reintroduce them to reviewjournal.com.