Key figure in Ore. mortgage fraud gets 2 years
Tuesday, October 18, 2011
PORTLAND, Ore. (AP) -- A 32-year-old Portland, Ore., man has been sentenced to more than two years in prison for his role in a mortgage fraud scheme. Federal prosecutors say the scheme cost lenders more than $3.8 million.
Two other defendants also were sentenced recently.
On Tuesday, Chadwick Amsden was sentenced in Portland.
Joel Rosabal was sentenced Oct. 5 to nearly three years in prison. On Sept. 19, Adam Perkins was sentenced to nearly two years and ordered to pay more than $1.2 million in restitution.
The defendants worked for the Lighthouse Financial Group, a now-defunct brokerage that was based in Vancouver, Wash.
Prosecutors say the men defrauded lending institutions by making false statements to get home loans at inflated prices, resulting in kickbacks.
The U.S. attorney's office says the case involved the purchase of more than 20 properties.
The defendants pleaded guilty to their roles earlier this year.