March 11 , 2010

SENTENCING SET FOR KANSAS CITY WOMAN CONVICTED ON MORTGAGE FRAUD CHARGES

KANSAS CITY, KAN. – Emma Jean Holmes, 52, Kansas City, Mo., has been scheduled for sentencing June 7, 2010, on mortgage fraud charges, U.S. Attorney Lanny Welch said today.

Holmes was tried in U.S. District Court in Kansas City, Kan., and found guilty March 5, 2010, on one count of conspiracy to commit mortgage fraud, one count of wire fraud, one count of mail fraud, and one count of money laundering. Co-defendant Wildor Washington, Sr., 65, Kansas City, Mo., was tried and found guilty Feb. 26, 2010, on the same counts.

During trial, prosecutors presented evidence that Holmes and Washington devised a scheme to obtain mortgage loans by submitting loan applications that grossly overstated Holmes’ income, falsely stated that Holmes intended to live in the homes, and falsely stated Holmes was using her own money to make the down payment. In fact, Holmes never intended to occupy the properties and the money for the down payment was coming from other conspirators. Holmes applied for loans on properties in the 7900 block of W. 155th Place in Overland Park, Kan., the 7800 block of W. 155th Pace in Overland Park, Kan., and the 15700 block of Birch Street in Overland Park, Kan. On the applications, she claimed to have a monthly income of more than $7,800 to $8,300 when in fact her income was approximately $3,000 a month.

The crimes carry the following penalties:
Conspiracy A maximum penalty of 5 years in federal prison and a fine up to $250,000.
Wire fraud: A maximum penalty of 20 years and a fine up to $250,000.
Mail fraud: A maximum penalty of 20 years and a fine up to $250,000.
Money laundering: A maximum penalty of 20 years and a fine up to $500,000.

Welch commended the Internal Revenue Service, the U.S. Secret Service, the U.S. Trustee’s Office, the Johnson County Sheriff’s Office, Assistant U.S. Attorney Chris Oakley and Assistant U.S. Attorney Marietta Parker for their work on the case.