Man sentenced in mortgage scam
September 16, 2009
Total Loss:
$11 million
The former owner of a Vermont bed and breakfast pleaded guilty Monday for his lead role in an $11 million dollar multi-state mortgage fraud scheme. Benjamin Osmanson, a 30-year-old resident of California and Texas, pleaded guilty in federal court in Burlington to one count each of conspiracy, wire fraud and money laundering. Osmanson was indicted in October 2008 on charges related to his scam to defraud mortgage lenders by submitting false loan applications in the name of "investors." At least four others have already pleaded guilty to their roles in the scam, including Osmanson's co-defendant Jillian Protzman, who posed as his wife while they traveled between California, Florida and Vermont to execute their scheme.
Source:
Times Argus
Posted in:
Internal Fraud