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PAIR PLEAD GUILTY TO $5.3 MILLION DOLLAR MORTGAGE FRAUD CONSPIRACY
Valley Pair Plead Guilty to $5.3 Million Mortgage Fraud Conspiracy Breaking News, Financial, Fraud, Mortgage Fraud, Press Release   PHOENIX—A Valley mortgage broker and her former associate have each admitted to conspiring to commit a multiple-transaction mortgage fraud that federal law enforcement calculates resulted in a loss to defrauded financial institutions of approximately $5,300,000.
Michele Mitchell, 45, of Glendale, Arizona, entered a guilty plea to one count of conspiracy to commit wire fraud in federal court on April 2, 2012.
Jeremy Pratt, 33, also of Glendale, had previously entered his guilty plea to one count of conspiracy to commit wire fraud on January 13, 2012.
Mitchell held herself out to be a mortgage broker, loan officer, and real estate investor. She was president of Golden Opportunity Investments, which was located in Scottsdale, Arizona.
Pratt operated a construction and remodeling company, Arizona Cooling Control Plus. Both admitted that between May 2005, and February 2007, they conspired to recruit straw buyers with good credit scores to purchase residential properties for purported investment purposes. In order to qualify for mortgage financing, they had the straw buyers submit loan applications and supporting documents that misrepresented their incomes, assets, liabilities, employment status, and intent to occupy ... more

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