Industry News

Georgia woman pleads guilty in real estate fraud

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A Georgia woman pleaded guilty last Thursday to one count of conspiracy in federal court in connection with her alleged role in a mortgage fraud scheme, media reports said. Jennifer C. Grant, 47, formerly of Atlanta, pleaded guilty to one count of a federal indictment charging a conspiracy to violate the bank fraud, mail fraud, wire fraud, interstate and other statutes by defrauding real estate owners, real estate investors and mortgage lenders, reports said. Grant was immediately detained without bond after the hearing, the Atlanta Business Chronicle reported. Her guilty plea came one day after U.S. Attorney David Nahmias announced the sentencing of the ringleader of what he called "one of the largest cases of mortgage fraud in this district." According to court documents, Grant collected about $1 million from real estate investors for the purported purchase of residential and commercial properties in Atlanta, Aliceville, Ala., New Jersey and elsewhere. She did so by falsely repres...