Former mortgage broker sentenced to probation, home confinement for fraud

[Strelnikov_]

http://www.desmoinesregister.com/article/20110107/NEWS/110107004/Former-mortgage-broker-sentenced-to-probation-home-confinement-for-fraud

A former mortgage broker from LeClaire has been sentenced to probation and home confinement for her role in a scheme to defraud mortgage lenders. The U.S. attorney's office says 35-year-old Natalie Long has been sentenced to five year's probation, including eight months home confinement.

. . .

The U.S. attorney's office says Long and two other brokers schemed to defraud Argent Mortgage and New Century Mortgage. Prosecutors say they diverted loan proceeds to their own pockets without the lender's knowledge and submitted false information to the mortgage companies to qualify for loans on two rental properties in Davenport.

The other brokers have each pleaded guilty and are awaiting sentencing. Long has also been ordered to pay more than $97,000 restitution.

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Eight months home confinement for stealing $97 Grand.

So, lets say Juan Gonzales, Leroy Washington and Billy Bob Thornton (the one from up to Pigsknuckle, not the other one) grab a bag of cash from an armored truck delivery while the guard is distracted. No weapons, no threats, just a garden variety distraction con. Think they would get 8 months home detention?

And who says (white collar) crime doesn't pay.

[LuvNewcastle]

1. No business would ever get done

in this country if people were afraid of getting hard time in prison for fraud and embezzlement. The crime has to be worth taking the risk; that's the beauty of capitalism.

[Strelnikov_]

4. So true n/t

[xchrom]

2. Oh well -- THAT'LL teach her. Nt

[HCE SuiGeneris]

3. just ass meted out

what a country!

[DenverDad]

5. At least

SHE has a home to be confined to, unlike many of her "clients".

[BR_Parkway]

6. If they extrapolated that out, how many months would Jamie Dimon get?

or some of those other head honchos who made so much money off the fraud? How many years was the term "liar's loans" used as casually as Kleenex? There's no way folks can still believe that those at the top had no clue what was going on or how much cash it was raking in for them