Eight Down, Two To Go In Metropolitan Money Store Foreclosure Rescue Scam As Maryland Feds Get Another Guilty Plea

From the Office of the U.S. Attorney (Maryland):

• Kurt Fordham, age 39, of Ft. Washington, Maryland, pleaded guilty [Friday] to conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, announced United States Attorney for the District of Maryland Rod J. Rosenstein.(1)

• “Kurt Fordham ripped off homeowners and mortgage lenders by submitting fraudulent paperwork to support over $13 million in loans that were never intended to be repaid,” said U.S. Attorney Rod J. Rosenstein. “Instead of helping financially distressed homeowners keep their homes as promised, he stole their home equity and used it to buy luxuries for himself, including art, cars, domestic and international trips, and to pay gambling expenses and over $800,000 on his luxury wedding.”

For the press release, see Eighth Metropolitan Money Store Conspirator Pleads Guilty in over $35 Million Mortgage Fraud Scheme (Fordham Personally Responsible for Over $13.5 Million in Losses to Mortgage Lenders and Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for His Wedding).

For the indictment, see U.S. v. JoyJackson, et al.

(1) According to the press release, Kurt Fordham is the eighth defendant to plead guilty in the Metropolitan Money Store mortgage fraud scheme. Joy Jackson, age 41, and Jennifer McCall, age 47, both of Ft. Washington, Maryland, a chief executive officer of Metropolitan Money Store and owner of JC and JC Investments LLC; Katisha Fordham, age 35, of Washington, D.C., a loan processor at the Metropolitan Money Store; Richard Allison, age 37, of Camp Springs, Maryland, an attorney and employee of the U.S. Census Bureau; Clifford McCall, age 47, of Lanham, Maryland, president of Burroughs & Smythe Financial Services, Inc., based in Lanham and a director of the Fordham & Fordham Investment Group, Ltd., a foreclosure consulting and credit servicing business based in Lanham and Greenbelt, Maryland; Carlisha Dixon, age 31, of Hyattsville, Maryland, vice president and a director of Burroughs & Smythe Financial Services, Inc.; and Chandra Jones, age 31, of Lanham, Maryland, the daughter of co-defendants Jennifer and Clifford McCall, each pleaded guilty to the conspiracy and are facing a maximum sentencing of 30 years in prison. Two defendants remain scheduled for trial on July 7, 2009.