From Deseret News archives:

Mortgage fraud earns man a 33-month term

Published: Sunday, Sept. 24, 2006 11:16 p.m. MDT
 |  E-MAIL | PRINT | FONT + - 
A Salt Lake man has been sentenced to 33 months in federal prison for his role in a mortgage fraud scheme.

Rob Ellertson, 42, was sentenced earlier this month by U.S. District Judge Dee Benson, who also ordered Ellertson to pay about $2.8 million in restitution to victims' mortgage and title-insurance companies.

Ellertson pleaded guilty last March to two counts of wire fraud and admitted that from March 2002 to September 2003, he and another man devised a scheme to obtain loan money and property from mortgage companies by means of a straw buyers scheme. The scheme involved buying lots in Salt Lake and Summit counties and then recruiting people who were paid a fee for permission to use their names and financial information to take out loans.

According to the plea agreement signed by Ellertson, he admitted that he completed all loan applications on behalf of the straw borrowers, which is against the law. He also misrepresented the borrowers' incomes and indicated that the borrowers intended to occupy the property when they did not.

Comments

You can be the first to comment on this story.

previousnext

Latest comments

What actions in the last 40 years makes you think electing republicans will...

Re: To Anonymous@12:25pm - Do they teach the difference between 'to' and...

Now that Oregon beat Oregon State last night in Eugene, Boise State is the...

WELL THAT WAS BRIGHT UTAH,THERE WENT SOME REAL GOOD PAYING JOBS,NOT TO...

Why do they have to reget a permit?

Congratulations to all of these players! You've all worked hard and I'm glad...

Utah Jazz going green with unis

LOVE the old school uniforms. I love the old purple road ones and the home...

Expert paid $500K for Mitchell report

RE: get it over, please "May justice work its course. There are no words...

Past Mr. Football winners

He was Mr. Utah. Cool! The guy that has hated BYU from the day he was born....

Freddie You do know that Muslims kill fellow Muslims daily? Because a...

Advertisements