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Tuesday, August 2, 2011

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Springfield Loan Officer Pleads Guilty to Mortgage Fraud Scheme

McNabb Associates, P.C. (Federal Criminal Defense Lawyers)
Submitted at 11:40 AM August 2, 2011

On August 1, 2011 the U.S. Attorneys Office for the Eastern District of Virginia released the following: ALEXANDRIA, VAJavier Siveroni, 48, of Springfield, Va., pleaded guilty today to using his position as a loan officer to help carry out a multi-milliondollar mortgage fraud scheme involving more than 15 homes in Northern Virginia. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, and James W. McJunkin, Assistant Director in Charge of the FBIs Washington Field Office, made the announcement after the plea was accepted by United States District Judge Liam OGrady. Siveroni pleaded guilty to one count of an indictment charging him with conspiracy to commit wire fraud. Siveroni faces a maximum penalty of 20 years in prison when he is sentenced on Nov. 4, 2011. According to court documents, Siveroni,

a former loan officer at the Falls Church branch of SunTrust Mortgage, prepared and submitted false, fraudulent, and misleading mortgage loan applications for unqualified buyersindividuals who lacked the finances, credit rating, or legal status to obtain a certain loan amount. The fraudulent mortgage loan applications contained false information regarding applicants employment, income, assets, immigration status, and intent to live in the property as a primary residence. As part of the fraud scheme, Siveroni created, and taught his co-conspirators how to create fake documents in order to corroborate false information contained in the loan applications. The total amount of mortgage loans approved through the conspiracy exceeded $6.5 million. The total loss attributable directly to Siveroni is over $2.5 million. In related matters, three loan officers have pled guilty to their roles in the alleged conspiracy: Preston Cherouny, 45, of Washington, D.C.; John Leone, 44, of

Vienna, Va.; Alejandro Alquinta, 35, of Springfield, Va. Maria Teresa Sanchez, 44, of Burke, Va., and Yolanda Salazar Camacho, 35, of Alexandria, Va., also pled guilty for their roles as loan officer assistants in the conspiracy. This ongoing investigation was conducted by the FBIs Washington Field Office. Assistant United States Attorney Uzo Asonye prosecuted the case on behalf of the United States. To find additional federal criminal news, please read The Federal Crimes Watch Daily. Douglas McNabb and other members of the U.S. law firm practice and write extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN List Removal. The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.