Ex-Banker/Real Estate Broker Charged With Defrauding Mortgage Lender

In Greeley, Colorado, the Greeley Tribune reports:

• A former Greeley Realtor and banker turned himself in at the Weld County Jail on Tuesday after a grand jury indicted him for investigation of theft involving mortgage fraud. The indictment charged R. Dean Juhl, a partner with JS Real Estate, ... and once an employee of the New Frontier Bank in Greeley, with two counts of theft and one count of forgery.

• He is accused of ... [giving] a couple almost $13,000 to put down on a house that they were going to buy from JS Real Estate. The indictment charges Juhl used the money to indicate to mortgage lenders that the couple had enough money to afford the house they were buying. [...] "(Juhl) concealed the true source of the funds," according to the indictment. [...] According to the indictment, because the couple paid (with Juhl's money) the down payment and other closing costs, the mortgage company was deceived into believing the couple could make the house payments. After the loan of $165,700 was paid by Master Financial Incorporated ["MFI"], the house payments were never made back to MFI, and the foreclosure was filed 11 months later. The indictment states JS Real Estate received the mortgage money paid by MFI. The indictment lists only MFI mortgage as the victim of the theft.

For more, see Grand jury indicts former Greeley Realtor, banker.

For story update, see Lawyers look at Juhl case in different ways (The Greeley Tribune, 11-15-07).