Nine people have recently been indicted for allegedly operating a mortgage fraud scheme that reportedly involved defrauding both homeowners and lenders. According to court documents, the group of people went after distressed homeowners whose homes were being foreclosed and, as a result, who were looking to unload their homes quickly through short sales.

The defendants would allegedly get these homeowners to sign over ownership and control of their properties to the group, who would then forge documents and submit these forgeries to banks to try to make it seem as though the homeowners still controlled their properties. The group also used “straw buyers,” making it seem as though these individuals would be purchasing the homes, in an effort to secure loans from the lending institutions.

Law enforcement officials have reported that the group of individuals alleged to have run this mortgage fraud scheme was able to conduct short sales on at least eight different properties and that the scheme had allegedly been in operation since 2008.

Court documents associated with the indictment explain that eight of the nine defendants will be prosecuted under the Colorado Organized Crime Control Act (COCCA) (18-17-103). Established in 1981, the Colorado Organized Crime Control Act is intended to prosecute individuals who have allegedly committed serious white collar crimes as part of an organized criminal enterprise. According to COCCA, racketeering charges, which will likely be filed in this case, are generally filed as Class 2 felonies, which are punishable by up to 48 years in prison upon conviction.

Denver Criminal Defense Lawyers

The authorities take allegations of white collar crimes, particularly when they have allegedly been committed by individuals who have a criminal record or when they involve defrauding lending institutions, extremely seriously, and these charges – even if a person is ultimately acquitted of them – can have a devastating impact on a person’s personal and professional life. If you or a loved one has been accused of any felony or misdemeanor crime in Denver, you will need an experienced defense attorney who is dedicated to defending your rights.

At the Law Office of Andres R. Guevara, our skilled Denver criminal defense lawyers are committed to providing the accused with the best possible defense and to working tirelessly to helping them resolve their case as favorably as possible. As soon as you start working with our trusted criminal defense lawyers, we will begin investigating your case, interviewing witnesses and compiling evidence to support your defense. We will also work diligently to get the prosecution’s evidence against you thrown out of court and, whenever possible, to get the charges against you reduced or potentially even dismissed entirely. To learn more about your legal rights and receive expert advice on how to proceed with your case, contact us at (720) 379-8262.