Ninth Defendant Goes Down In Maryland $35M+ Equity Stripping, Foreclosure Rescue Scam

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

• Wilbur Ballesteros, age 33, of Lanham, Maryland, pleaded guilty [Thursday] 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.

***

• According to his plea agreement, in May 2005, co-defendants Joy Jackson and Jennifer McCall incorporated Metropolitan Money Store, located in Lanham, Maryland, which offered foreclosure consultation and credit services to financially distressed homeowners. From September 2004 to June 2007, Ballesteros conspired with others to fraudulently promise to help homeowners, who had substantial equity in their homes but were facing foreclosure because of their inability to make monthly mortgage payments, avoid foreclosure and repair their damaged credit. [...] Ballesteros is the ninth defendant to plead guilty in the Metropolitan Money Store mortgage fraud scheme.

For the entire press release, see Real Estate Agent Pleads Guilty in over $35 Million Mortgage Fraud Scheme.

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

(1) Eight other defendants have pleaded guilty to the conspiracy and are facing a maximum sentencing of 30 years in prison: Joy Jackson, age 41, President of Metropolitan Money Store, 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; Jackson’s husband Kurt Fordham, age 39, of Ft. Washington, Maryland, president of Fordham & Fordham Investment Group, Ltd. (F&F) and a director of F&F and Burroughs & Smythe Financial Services, Inc. (B&S) 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.