Silver Spring man gets prison time in mortgage fraud case -- Gazette.Net


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A 49-year-old Silver Spring man was sentenced on Jan. 15 in federal court to 21 months in prison for mortgage fraud, with another 3 years of supervised release after he completes his sentence.

U.S. District Judge Peter J. Messitte also ordered Edwards to pay restitution of $625,000.

Edwards fraudulently obtained mortgage loans in 2006 totaling $342,000 to purchase a home in Silver Spring, according to his plea agreement. He said he worked as a nurse at Secure Care Nursing Home and a mover for Brothers Engineering Moving Company, which was not true, according to his plea agreement. In his mortgage application, Edwards claimed to earn $6,000 a month from both employers, according to the plea agreement, but Edwards was actually unemployed and receiving Social Security payments of $1,000 a month.

The news about the plea was provided by the U.S. Attorney’s Office for the District of Maryland, which said that Edwards committed the fraud with the help of several co-conspirators, who they did not name.

Edwards worked with one co-conspirator to buy two properties; one in Hyattsville and one in Columbia, according to his plea agreement.

In 2008, Edwards’ co-conspirator sent a $12,082.90 cashiers’ check to the mortgage company after the loans on the Columbia property went into default, in an attempt to forestall foreclosure, according to the statement from the U.S. Attorney’s Office.

Two years later, Edwards tried to convince the bank to accept a “short sale” of the property, which would have caused a loss of $625,000, by claiming he had fallen behind on the mortgage payments due to a medical disability after he obtained the loans, according to the statement from the U.S. Attorney’s Office. In fact, Edwards was unemployed and already receiving disability payments when he first obtained the loans, according to the U.S. Attorney’s Office statement.

sjbsmith@gazette.net