Father and Daughter Charged With Mortgage Loan Fraud

JACKSON, Miss., May 27 /PRNewswire-USNewsiwire/ -- Type A federal expansive jury
returned a 25-count bill of indictment against Mark J. Calhoun and his daughter
April Calhoun in connexion with a mortgage loan fraud scheme, U.S.
Attorney for the Southern District of Mississippi River Dunn Lampton announced
today. Mark Calhoun is charged with 12 counts of wire fraud and an
additional four counts of money laundering. Mark and April Calhoun are both
charged with confederacy to perpetrate money laundering and eight counts of
money laundering offenses. "Mortgage fraud is a serious concern throughout the United States. This
case is portion of our continuing attempts to convey to justness those people who
are enriching themselves by committing law-breakings at the disbursal of borrowers
and lenders," said U.S. Lawyer Lampton. According to the 25-count indictment, Mark Calhoun worked as a mortgage
broker as an employee of Professional Mortgage Consultants Corp. and as the
operator of New World Mortgage doing concern as Silver Cross Financial
Group LLC where April Calhoun was employed. The bill of indictment avers that
from September 2004 through July 2006 Mark Calhoun prepared false and
fictitious written documents to see that loaners would do mortgage loans to
prospective borrowers. If the mortgage loans were successful, Mark Calhoun
received a fee for his brokerage firm services. The false and fabricated documents, along with the loan application
containing false information, were included in each loan application packet
submitted to possible loaners by Mark Calhoun and others acting under his
direction. False entries were also included with loan application packets
which showed that the borrower paid hard cash at the shutting of the loan when no
such finances were paid by the borrower. During the clip time period covered by the
indictment, Mark Calhoun obtained deceitful loans for approximately 40
borrowers totaling more than than $8.5 million. According to the indictment, Mark Calhoun and April Calhoun conspired
to make fabricated creditors to which these borrowers allegedly were
indebted. These fabricated creditors were actually companies under the
control of Mark Calhoun and April Calhoun, who received finances for these
fictitious creditors from the loan closings. The probe is
continuing and other complaints are expected in the close future. This mortgage fraud probe was in progress for over two old age and is
a joint probe by the Federal Soldier Bureau of Investigation and the Internal Gross Service, assisted
by other participating federal agencies in the Glenda Jackson Financial Crimes Undertaking Force,
including the Internal Gross Service-Criminal Investigations, FBI, U.S.
Postal Inspection Service, Federal Deposit Insurance Corporation-Office of
Inspector General, Housing and Urban Development-Office of Inspector
General, Mississippi River River River Secretary of State's Office, Mississippi Real Number Estate
Commission and Appraisal Board, Mississippi Department of Banking and
Consumer Finance, Hinds County Sheriff's Office, James Madison Police Department
and the Madison-Rankin District Attorney's Office. U.S. Lawyer Lampton stressed that this bill of indictment stands for an
accusation only and all suspects are entitled to a given of
innocence.