Denver Woman Sentenced in Mortgage Fraud Case

Denver resident, 32-year-old Vicki Dillard Crowe was sentenced to 60 months in federal prison followed by three years of supervised release and a restitution payment of $2.4 million for mortgage fraud.

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""This sentence demonstrates that perpetrators of this type of crime will be held accountable,"" said Adam P. Behnen, inspector in charge at the U.S. Postal Inspection Service, which investigated the case along with the FBI.

Crowe devised a scheme to defraud financial institutions and obtain mortgage loans for 19 properties in the Denver area.

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To qualify for the mortgage loans, Crowe ""made and caused to be made at least one materially false representation.""

She or someone on her behalf misrepresented her and her husband's income and assets, her job title, and her financial liabilities. She also did not disclose all of her recent property purchases and falsely claimed properties as primary residences that were not, according to the indictment.

Crowe also persuaded the property seller to inflate the sale price and then claimed the ""up front"" money she received was a payment to the broker or remodeling company.

Crowe was indicted by a federal grand jury in April 2010, found guilty in December, and sentenced at the end of September 2012. She was ultimately charged with ""mail and wire fraud in connection with a mortgage fraud scheme,"" according to the ""Justice Department."":http://www.justice.gov/usao/co/press_releases/2012/October2012/10_5_12.html

""The FBI is fully committed to protecting our economy by aggressively investigating those who commit mortgage fraud,"" said James Yacone, FBI Denver Special Agent in Charge.

""Mortgage fraud hurts borrowers, the public, and the financial system as a whole,"" said U.S. Attorney John Walsh. ""We will continue to prosecute mortgage fraud aggressively and effectively.""