Four charged in $7.3M scheme targeting FHA, VA loan programs
“These defendants allegedly conspired to corrupt the mortgage process by flooding lenders with fabricated finance and employment information to push through unqualified borrowers,” Raybould said.
“We will pursue anyone who deceives federal loan programs, threatens the integrity of our housing system and harms American taxpayers who ultimately bear the cost of fraudulent schemes such as this.”
Read more: Forged deeds, fake divorce: SF sues to claw back $4.4 million home
Inside the alleged scheme
According to the indictment, the conspiracy ran from June 2020 through November 2022, with the defendants working in concert to falsify income records, employment histories, bank statements, and other financial documentation — all funneled through Eustis Mortgage Corporation, operating as Verity Mortgage, to qualify borrowers who could not otherwise meet federal lending standards.
Randall, whose real estate license was inactive during the conspiracy period, allegedly recruited unqualified borrowers and coordinated the production of fraudulent W-2s, pay stubs, employment verifications, and bank statements.
