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Federal judge gives NC man prison sentence in mortgage fraud case

| Jan 15, 2014 | Federal Crimes |

Recently, a North Carolina man was given his sentence in a federal mortgage fraud case.

The man is from Cary. Authorities allege that the man was part of a mortgage fraud scheme that involved “flipping.” According to authorities, lenders lost millions of dollars due to the scheme.

The man faced a federal charge of conspiracy to commit mail, wire and bank fraud in relation to these mortgage fraud allegations. He was convicted of this charge. The News & Observer article which reported this story did not mention if this occurred through a jury verdict or a plea.

As we mentioned above, the man recently received his sentence. The sentence was issued by a judge with the U.S. District Court for the Eastern District of North Carolina. The man was sentenced to a prison term of 96 months.

In the wake of the mortgage crisis, mortgage fraud cases have become a more and more common thing in North Carolina and the rest of the nation. As can be seen from this case, individuals sometimes end up facing federal prosecution in connection to mortgage fraud allegations.

Facing federal charges can be an incredibly different experience from facing state charges. Federal criminal cases have a very different set of rules, processes and timetables. This, combined with the fact that federal charges often have harsher punishments associated with them, makes it so it can be very important to have the representation of a criminal defense attorney who understands the specifics of the federal criminal justice system when facing federal charges for mortgage fraud or other crimes.

Source: The News & Observer, “Cary man sentenced to 96 months in mortgage fraud scheme,” David Bracken, Jan. 14, 2014

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