Wednesday, April 14, 2010

Atlanta Feds Indict Three In Alleged Reverse Mortgage Fraud Conspiracy

From the Office of the U.S. Attorney (Atlanta, Georgia):
  • JONATHAN ALFRED KIMPSON, 27, of Lithonia, Georgia, and GIA HARRIS, 26, of Atlanta, Georgia, have been indicted by a federal grand jury on charges of conspiracy to commit financial institution fraud involving so-called "reverse" mortgages. KIMPSON was also charged with aggravated identity theft and wire fraud. KELSEY TORREY HULL, 38, of Lithonia, Georgia, was charged on February 25, 2010, in a Criminal Information related to the same scheme, on a charge of financial institution fraud and conspiracy.

  • Acting United States Attorney Sally Quillian Yates said, “These defendants are charged with profiting from the corruption of an FHA-insured program designed to assist seniors with either cash for equity in their home or with funds toward the purchase of a home. These defendants allegedly altered real estate records, used fake documents, and posed as realtors. This abuse of the system took money away from qualified senior citizens who need these funds. With these charges, we have taken the first steps to stop this crime and to reverse the damage these crimes have caused.”

For the entire U.S. Attorney press release, see Three Members Of A "Reverse" Mortgage Fraud Ring Charged (Fraudsters Profited from FHA-Insured Reverse Loans Intended to Benefit Seniors).