Las Vegas Sun

October 1, 2014

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Crime:

Tenth person charged in mortgage scheme

A Las Vegas man was charged today in a mortgage fraud scheme that cost lenders and financial institutions $15 million in losses.

Jabari Marshall, 36, was found guilty of one count of conspiracy to commit mail fraud and wire fraud after a two-week jury trial. Marshall was the 10th person charged in the scheme, said Daniel Bogden, U.S. Attorney for the District of Nevada.

According to the indictment and jury trial, Marshall and nine other defendants purchased 30 homes from 2005 to 2007. They made purchases using “straw buyers,” people who allow their names and credit histories to be used to secure mortgages to buy homes they never intend to own or occupy, and submitted false information to financial institutions to obtain mortgage loans, Bogden said.

Lloyd Gardley, who was considered to be the leader, worked with Candis Gardley and Marshall to recruit straw buyers, loan officers, an escrow assistant, an accountant, two real estate agents and a person who provided false verifications of rent into the scheme, Bogden said.

Marshall also provided false Social Security numbers and documents for some of the loans, Bogden said.

The scheme resulted in $15 million in losses for lenders and financial institutions.

Marshall is scheduled to be sentenced on Jan. 9 and faces up to 20 years in prison and a $250,000 fine. Nine other co-defendants pleaded guilty before trial, with eight of those still awaiting sentencing.

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