SPRINGFIELD, Mo. -- A real estate agent from Branson received an 18-month federal prison sentence this week for a $391,519 mortgage fraud scheme. U.S. District Judge Richard Dorr also ordered Vickie Lind, 48, to pay $70,426 in restitution.
Last Oct. 28, Lind pleaded guilty to participating in a wire fraud conspiracy and a money laundering conspiracy from Aug. 1 to Oct. 3, 2005. In addition to the two conspiracies, Lind pleaded guilty to one count of wire fraud and one count of money laundering.
Lind, a realtor who did business as My Realty Company, defrauded First Magnus Financial Corporation in Overland Park, Kan., by submitting fraudulent documentation in order to obtain $391,519 in mortgage loans for a home in Ozark.
In order to obtain the loans, Lind provided false documentation that an individual was leasing the property for $3,500 per month. First Magnus Financial Corporation approved the buyer’s loan application on the strength of the $3,500 per month lease agreement. First Magnus would not have approved the loan application without this lease agreement, because the buyer’s debt-to-income ratio was too high.