Madison
63° F
Clear
Clear
Advertisement

Madison man sentenced to prison for mortgage fraud

Published On: Jun 16 2014 01:28:40 PM CDT
Updated On: Jun 16 2014 01:29:00 PM CDT
Gavel generic
MADISON, Wis. -

A Madison man was sentenced to six months in federal prison for his role in a mortgage fraud scheme, according to a release from the U.S. Department of Justice.

David E. Robert, 42 was also sentenced Thursday to pay a $1,000 fine and $336,100 in restitution. He pleaded guilty to the charge on April 3.

Investigators said Robert was the owner of Western Designs and Sterling Concepts, residential construction companies, and between in 2006 he conspired with two others to secure a first and second mortgage for the purchase of a home in Westport.

One of the two, Becky L. Ring, formerly known as Becky L. Stoltenberg, was the former owner of JC Mortgage in Madison and P. Edwin Gray, of Oregon, was Robert’s accountant.

According to prosecutors, Gray falsified Robert’s income on a W-2 which allowed him to qualify for the mortgage loans that he otherwise would not have gotten. Stoltenberg acted as the mortgage broker on the loans and transmitted the documents to the bank.

Gray pleaded guilty to mortgage fraud in August 2012 and was sentenced to three years of probation in October 2012, which was later reduced to one year of probation.

Ring pleaded guilty to mortgage fraud in November 2012 was sentenced to one year of probation.

Gray had paid $700 towards restitution. Ring paid the remaining restitution owed of $335,400 prior to her sentencing.

Robert will pay nothing towards restitution because he was given credit for the payments made by the other two.

Advertisement
  • Marysville Pilchuck school shooting 4

    KOMO

    2 dead in school shooting near Seattle, sources say

    A school shooting has been reported at Marysville-Pilchuck High School in Marysville, Washington, about 35 miles north of Seattle.

  • Craig Spencer

    CNN

    America's Ebola patients

    An American doctor who was working with Ebola patients in Guinea was been diagnosed with the disease after returning to New York. Learn more about him and America's other Ebola victims.

  • Hot peppers

    Karimala/iStock

    Notable food recalls

    A North Carolina producer of peppers and hot sauces is voluntarily recalling 6,215 pounds of fresh serrano chili peppers because some tested positive for salmonella. Here are other notable food recalls that made headlines.

  • jack-o-lantern Halloween pumpkin

    Juliet James/SXC

    Halloween

    Games, recipes, trick-or-treating, scary movies and everything else you need to make your Halloween extra spooky.

  • Politician, politics, debate, election

    iStock / bns124

    Election Coverage

    Get up-to-date on political stories, Reality Check the latest political ads, learn about the candidates and find election results in our special section.

  • Ebola virus pink

    CDC

    Ebola special coverage

    Get the latest news on the Ebola outbreak and resources to help you learn more about the deadly virus.

Advertisement