Industry News

Ten guilty in Kansas City mortgage fraud rings

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A $400,000 mortgage fraud ring involving a former Kansas City, Mo., city councilwoman, a mortgage broker and construction contractor has ended in a two-year prison term for one defendant, with the other two awaiting sentencing. Emanuel M. Kind, 52, was sentenced Wednesday by U.S. Chief District Judge Fernando J. Gaitan Jr. to two years in federal prison without parole and ordered to pay $144,234 in restitution, prosecutors said. Kind, a construction contractor, and co-defendant Ricky L. Hamilton, a former mortgage broker, entered guilty pleas on Aug. 9 for their part in a mortgage fraud scheme in which former City Councilwoman Saundra A. McFadden-Weaver allegedly acted as a straw buyer. McFadden-Weaver, 48, of Kansas City, was convicted at trial on Aug. 16 for her role in the conspiracy as well as six individual counts of wire fraud. An unrelated mortgage fraud case involving another prominent Kansas City-area politician, Katheryn J. Shields, has produced seven guilty ...