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

I read that Hall was going to leave it all on the field the rest of the...

Relieved Cougs prep for Falcons

For all you Bronco bashers -- have you forgotten about Crowton? Things could...

POWs remembered at Fort Douglas

Peace and tolerance are worthy efforts. My sister and I were very impressed...

Wounded Utes limp home

The correct realist outlook shows Utah slipping back to being mediocre at...

MWC expand? Get rid of deadweight

So the presidents would never do it. But I totally agree.

MWC expand? Get rid of deadweight

Once again, a clueless article about conference realignment that only...

Hey, "Time to get a new coach". Chill! Sounds like you need something else...

Now there is proof. The Layton/Alta game in 2007 set a record attendance and...

Utah parents put a lot of trust in the schools and teachers who teach and...

Without Collie on the drive to score the Colts 4th TD, they never get the...

Advertisements
Advertisement