Missouri Man Gets 5+ Years In Scam Involving 23 Fraudulent Loans Totaling $5M+

In Kansas City, Missouri, the Kansas City Business Journal reports:

• A Lee’s Summit man was sentenced [last] Friday in federal court in Kansas City to five years and three months in prison without parole for his role in a $5 million mortgage-fraud conspiracy. District Judge Gary Fenner sentenced Eric Kendall Taylor, 37, and ordered him to pay $1.4 million in restitution, John Wood, U.S. Attorney for the Western District of Missouri, said in a release.

• Taylor pleaded guilty Aug. 25, 2006, to conspiracy and money laundering. He was in business as an investor in residential properties in Kansas City and Lee’s Summit, using the business name C and K Co. to create false second mortgages on properties and get loan proceeds, Wood’s release said. [...] Between the summer of 1999 and Sept. 23, 2005, mortgage lenders approved 23 fraudulent loans totaling almost $5.16 million.

For more, see Lee’s Summit man gets five years for mortgage fraud.