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Loan officer gets prison time in federal mortgage fraud case

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By JEFF GERMAN LAS VEGAS REVIEW-JOURNAL
March 10, 2014 - 2:26 pm
 

A Southern Nevada loan officer was sentenced to 57 months in federal prison Friday in a $1 million family-run mortgage fraud scheme.

Lance Kellow, 37, of Henderson, also was ordered to pay $834,000 in restitution, federal prosecutors announced Monday.

Kellow was convicted in March 2013 of one count of conspiracy to commit mail and wire fraud, three counts of wire fraud, and one count of bank fraud.

Kellow, who is to surrender to federal prison authorities June 5, and his brothers, Jason and Vince, lied to mortgage lenders to get real estate and money for their own use, prosecutors alleged in the case.

Jason Kellow pleaded guilty in the scheme and was sentenced to 33 months in prison and ordered to pay $1 million in restitution. Vinson Kellow pleaded guilty in and was sentenced to seven months behind bars.

The case was investigated by the FBI.

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