Industry News

Mortgage fraud scheme uncovered in Southeast

Woman faces possible 25 years' prison, $1.25 million fine

Rebecca Marie Hauck pleaded guilty May 15 in federal district court to being part of a mortgage fraud and bank fraud scheme that left a trail of victims in Georgia and other parts of the Southeast, media reports said Monday. Hauck and co-defendant Matthew Bevan Cox, who remains at large, allegedly rented properties from true owners and fraudulently erased mortgage liens on the properties, reports said. The defendants then allegedly stole the identities of the owners and fraudulently obtained multiple new mortgage loans on the properties, according to reports. After the two allegedly executed the scheme in one location, they changed locations and perpetrated the same so-called fraudulent scheme, the Atlanta Business Chronicle said. Hauck and Cox allegedly used stolen identities to obtain drivers licenses, purchase vehicles, lease mail drops, rent apartments and open bank accounts to receive scheme proceeds in Georgia, Florida, Alabama, South Carolina and North Carolina, reports said. ...

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