Plano Woman And 10 Others Sentenced In Mortgage Fraud Case

Plano Woman And 10 Others Sentenced In Mortgage Fraud Case

A Plano woman and 10 other Texans have been sentenced to federal prison within the past week for their roles in a mortgage fraud conspiracy that involved inflated home prices, the U.S. attorney’s office announced on Tuesday.  In this scheme, Debra Rush-Santens and others induced lending institutions to fund mortgage loans for residential properties whose values had been fraudulently inflated. The homes then went to buyers who had been fraudulently qualified for loans. In addition, Rush-Santens had HUD-1 forms submitted to lending institutions that falsely stated that the buyers had provided the down payment for the home purchase when Rush-Santens was the source of the down payment.

The scheme between July 2006 and March 2008 involved 31 properties, 19 of them in Frisco, according to court documents.

Rush-Santens worked the scheme through three companies she owned, operated and controlled from her residence in Plano and at her office in Frisco, according to prosecutors. Those companies were Silver Key Financial, LDS Lakehill Developers Group, L.P, and North Texas Developers Group.

 

In one case cited in court documents, Rush-Santens purchased a home on Box Elder Lane in Frisco for $295,000 and then paid the down payment that the lending institution relied on to grant a mortgage loan to one of the other defendants to purchase the home for $417,000.

 

  • Rush-Santens was sentenced to 5 years in federal prison and ordered to pay restitution of more than $6.2 million.

  • Casey Irons, 42, of Rockwall was sentenced to 87 months in federal prison and ordered to pay restitution of more than $5.9 million.

  • Chris Limbrick, 47, of Houston was sentenced to 47 months in federal prison and ordered to pay more than $4.5 million in restitution.

  • Gregory Preston, 43, of Cedar Hill was sentenced to 42 months in federal prison and ordered to pay more than $3 million in restitution.

  • Eric Patterson, 36, of Dallas, was sentenced to 25 months in federal prison and ordered to pay more than $1.2 million in restitution.

  • Michael Allen, 47, of Houston, was sentenced to 41 months in federal prison and ordered to pay more than $507,000 in restitution.

  • Djuana Pitts, 46, of DeSoto was sentenced to 70 months in federal prison and ordered to pay more than $5.68 million in restitution.

  • Patricia Hines, 51, of Cedar Hill was sentenced to 52 months in federal prison and ordered to pay more than $1.56 million in restitution.

  • Elliott Scott, 40, of Houston was sentenced to 46 months in federal prison and ordered to pay more than $2.14 million in restitution.

  • Allen Kent Barnett, II, 39, of Rockwall was sentenced to 31 months in federal prison and ordered to pay more than $3.15 million in restitution.

  • Jennifer Gipson, 49, of DeSoto was sentenced to 12 months and a day in federal prison.

    This case was investigated by the FBI and IRS Criminal Investigation and prosecuted through the U.S. Attorney’s Office for the Eastern District of Texas.

  • Dallas Morning News, March 17, 2015

For more information, please contact me or visit my website:

Chris Boyington, Realtor, ABR

U.S. Army Veteran

Homes For Heroes
www.homesforheroes.com/affiliate/chris-boyington
Halo Realty Group
214-598-0221 cell

chrisboyington@yahoo.com

www.northtexasheroes.com


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Dated: April 3rd 2015
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