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New Appraiser Indictment

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TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
If convicted the defendant faces a maximum possible sentence is 166 years’ imprisonment, five years of supervised release, a $5,050,000 fine, and a $1,000 special assessment


ouch.
 

Pittsburgh Pete

Elite Member
Joined
May 6, 2008
Professional Status
Certified General Appraiser
State
Pennsylvania
I'm sure he's getting everything he deserves but what's up with a $1,000 special assessment on top of a potential fine of $5M and 5 years of supervised release after a possible 166 years in prison?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Sounds like he acted as AMC, but his "staff appraisers" was paid $0 and not aware of the defalcation going on. So wonder if he did all these himself or was Awad's Formfill Service fleshing them out overseas?
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Awww.....10 appraisals a month....poor fella. Just an empty ICLight can throw from the AMC cesspool capital of the country.

Good find Tres.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
Reverse mortgage fraud may lack the glamour of jumbo loans on exotic mansions, but pretty soon all those losses do begin to add up. There appears to be one AMC in particular that has the ability to locate C3 and C4 properties which somehow turn into C6 tear downs in less than 5 years at an astonishing rate. The data is in the giant vault awaiting the harvest.
 
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