A Carrollton woman was sentenced to 2 years and 6 months in federal prison without parole for her role in a $185,000 bank fraud scheme in which she used her neighbor’s house to obtain a loan for her failed business venture.
Carol Joyce Noble, 65, of Carrollton, was sentenced by U.S. District Judge Stephen R. Bough to two years and six months in federal prison without parole. The court also ordered Noble to pay $267,924 in restitution.
Noble was found guilty at trial of two counts of bank fraud for her role in defrauding Central Trust Bank in Jefferson City, Mo., in September 2011. Evidence presented during the trial indicated that Noble caused the fraudulent appraisal of her Gravois Mills, Mo., residential property in order to obtain the loan.
As part of the scheme, Noble altered the physical address of the residence to an adjacent residence by changing the last digit of the house number, unbeknownst to the neighbor. She then met the appraiser at her neighbor’s home and misrepresented to the appraiser that it was her own. The appraiser then appraised the wrong home at a value $100,000 higher than the true value of Noble’s property.
The loan closed and the money was issued, but the business quickly failed. During the foreclosure process, it was determined that the property appraised was not Noble’s actual house, but rather, the residence next to hers. The bank ultimately sold Noble’s actual residence for only $15,000.
The bank, Noble’s business partners (who continued to pay the deficiency on the loan after its default) and even the appraisal company and its insurance company lost substantial amounts of money as a result of this fraud.
This case was prosecuted by Assistant U.S. Attorney Lauren E. Kummerer and investigated by the FBI.
RELATED: Bribing Official at European Bank Lands Philly Man 7 Years
RELATED: ATM Skimmer Scheme Lands Bulgarian Citizen 3+ Years in Prison
Related Federal Cases
- Barwick-Majeski Pleads Guilty to $3M Nigerian Fraud Scheme · Missouri
- Kalena Winston Pleads Guilty to $70K Tax Fraud Scheme · Kansas
- Mario Antoine Indicted in Pornography Fraud Scheme · Kansas
- Adam Bernaix Gets 37 Months for $350K Fraud Scheme · Illinois
- Charles Hicks Pleads Guilty to $370K Mail Fraud Scheme · Missouri
Key Facts
- State: Missouri
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News