Results tagged “Mortgage Fraud” from The Court Reporter

Ex-Cowboy Football Player Sentence to Prison for Wire Fraud

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DALLAS--A former Dallas Cowboys football player was sentenced last week in federal court to more than four years in prison for his role in a massive mortgage fraud scheme that he and others ran in the Dallas area, according to the U.S. Attorney's Office.

Eugene Lockhart, Jr., of Carrollton, Texas, played for the Cowboys from 1984 to 1990 and used his name and fame to get business and further the scheme, according to federal authorities.

Lockhart was ordered to pay about $2.4 million in restitution following his guilty plea to one count of conspiracy to commit wire fraud.

Lockhart was the last of 10 defendants who were convicted in the scheme.

William Randolph Tisdale, of Dallas, also considered a leader in the scheme along with Lockhart was convicted of one count of conspiracy to commit wire fraud and one count of bank fraud. He was sentenced to 10 years in prison and ordered to pay $1.1 million in restitution, federal officials stated.

Lockhart was involved with real estate entities, some formed by him and Tisdale, which had names that were often derived in some fashion from a reference to the Dallas Cowboys, including America's Team Mortgage; America's Team Realty; America's Team Funding Group; Ace Mortgage; Cowboys Realty; Cowboys Mortgage; and KLT Properties.

Actor and an Accountant Agree to Plead Guilty in Mortgage Fraud Case

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LOS ANGELES -- Actor Tommy Lister and San Fernando Valley accountant agree to plead guilty in a $3.8 million mortgage fraud case, according to the U.S. Attorney's Office in Los Angeles

Lister, of Chatsworth,  who appeared in about 100 movies and the accountant were charged with conspiring to commit mortgage fraud in a scheme that resulted in $3.8 million losses,  federal prosecutors stated.

Lister, who is known as "Tiny" and "Zeus," was charged this afternoon in a criminal information with one count of conspiracy. A second person, Arcelia Chavez, 48, of Northridge was also charged with conspiracy today.

Chavez is a certified tax preparer.

Federal authorities stated that Lister, Chavez and others --  including Sami Sager Sweiss, formerly a mortgage loan officer based in Woodland Hills; Jason Patterson, a real estate agent in Long Beach;  J.R., formerly a manager of a Washington Mutual branch in Woodland Hills; and Wanda Tenney, former an escrow based in the San Fernando Valley - conspired with individuals to fraudulently acquire title to four residential properties that Lister could not afford.

Lister with the help of others got mortgages through fraudulent means, including submitting mortgage applications that included inflated income and assets amounts, fabricating bank statements and falsifying other documents to deceive lenders into believing that Lister made the required down payments, according to federal prosecutors.

Lister and his co-conspirators received kickbacks from sellers after the real estate deals closed.

The conspiracy charge carries a maximum sentence of five years in federal prison, prosecutors stated.

 

 

 

The Court Reporter
Raul Hernandez has spent years writing stories about the drama that unfolds in the courtroom. Here he answers common questions, share some insights on the judicial system and passes along some of the little things that make the Ventura County courts an interesting place to be. You can contact him at rhernandez@vcstar.com.