Atlanta Woman Gets 3+ Years For Using Forged Deeds, Phony 'Gift' Letter, Inflated Property Value To Fraudulently Obtain Reverse Mortgage

From the Office of the U.S. Attorney (Atlanta, Georgia):

• GIA JOY GLASSE-HARRIS, 27, of Atlanta, Georgia, was sentenced to prison early this evening by United States District Judge Amy Totenberg on charges of conspiring to commit mortgage fraud.(1)

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• According to United States Attorney Yates, the charges and other information presented in court: From May 2009 through February 2010, GLASSE-HARRIS engaged in a conspiracy to defraud that involved reverse mortgages.

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• GLASSE-HARRIS, who is not a senior citizen, attempted to take advantage of the reverse mortgage program by using forged deeds to transfer property into the name of a senior citizen, while fraudulently inflating the value of the property by more than five times the true value.



• GLASSE-HARRIS then attempted to “sell” the property at the inflated value to a second senior citizen, using fraudulent “gift” letters to create a down payment, so that the senior citizen would appear to have equity in the property. GLASSE-HARRIS’ attempt to obtain this reverse mortgage was declined by the lender, and her subsequent efforts at additional reverse loan fraud in the name of another senior citizen were thwarted by a government sting that implicated GLASSE-HARRIS and others.

For the U.S. Attorney press release, see Atlanta Woman Sentenced for Committing Mortgage Fraud (Gia Joy Glasse-Harris Tried to Profit from Reverse Mortgages Intended to Benefit Senior Citizens).

(1) GLASSE-HARRIS was sentenced to three years and one month in prison, to include the final six months in home confinement, to be followed by three years of supervised release, and ordered to pay restitution in the amount of $174,000. GLASSE-HARRIS pleaded guilty to the charges on August 24, 2011.