Four Indicted in $7.3 Million Mortgage Fraud Scheme Involving Texas, Oklahoma Home Loans
DALLAS - Four people have been indicted on federal charges accusing them of using fabricated employment, income and banking records to obtain more than 20 home loans worth approximately $7.34 million.
A federal grand jury indicted Shawna Randall, also known as Shawna Porter, Cleophus Turner, Julie Shoumbert and Maurice Gardner on Sept. 16, according to the U.S. Attorney's Office for the Northern District of Texas.
All four are charged with conspiracy to provide false statements to a mortgage lending business. Randall and Turner also face three counts each of fraud and false statements.
According to the indictment, the defendants participated in a scheme from June 2020 through November 2022 that helped borrowers who otherwise would not qualify obtain Federal Housing Administration, Department of Veterans Affairs and conventional mortgages originated through Eustis Mortgage Corporation, doing business as Verity Mortgage.
Prosecutors allege Randall, who worked for a real estate broker, recruited borrowers and prepared or directed others to prepare fraudulent W-2 forms, pay stubs, employment verifications and bank statements. Her real estate license was inactive during the period covered by the alleged conspiracy.
Turner worked as a mortgage loan officer at Verity Mortgage and allegedly submitted the falsified documents with official mortgage applications despite knowing the financial and employment information had been fabricated or altered.
Shoumbert and Gardner are accused of producing falsified bank statements for borrowers at Randall's request. Those statements were then included in mortgage qualification files submitted to the lender, according to prosecutors.
The indictment details transactions involving properties in Texas and Oklahoma and accuses the defendants of repeatedly creating and transmitting fraudulent financial and employment documents to obtain loan approvals.
Federal authorities said the scheme resulted in more than 20 fraudulent mortgages totaling approximately $7,339,699.
Some of the loans were insured by the federal government. The Department of Housing and Urban Development has already paid more than $493,499 in partial FHA insurance claims connected to the loans, according to the U.S. Attorney's Office.
If convicted, Randall and Turner face up to five years in federal prison on the conspiracy charge and up to 30 years on each of the three fraud and false-statement counts. Shoumbert and Gardner each face up to five years on the conspiracy charge. Fines and forfeiture could also be imposed.
An indictment is an accusation, and the defendants are presumed innocent unless proven guilty.
The Offices of Inspector General for HUD, the Department of Veterans Affairs and the Federal Housing Finance Agency investigated the case. Assistant U.S. Attorney Chad Meacham is prosecuting it.
