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Crimes of the Heartland
A Catonsville real estate appraiser has been sentenced to 15 months in prison for his role in a mortgage scheme that bilked victims out of over $4 million.
David C. Christian, 63, of Catonsville, Maryland, was found guilty of conspiracy to commit wire fraud after he admitted to preparing at least 16 fraudulent appraisals for Worthington Mortgage Group, LLC, a mortgage brokerage company controlled by Joshua Goldberg.
According to court documents, Christian falsified the appraisals by using fake photos and descriptions of the properties, misrepresenting the condition of the properties, and using inappropriate comparable properties. The total loss for the 16 loans amounted to $2,440,804, including $814,730 to the Federal Home Loan Mortgage Corporation (Freddie Mac), and $757,293 to the Federal National Mortgage Association (Fannie Mae).
In addition to his prison sentence, Christian was ordered to pay restitution of $2,440,804.
Christian’s scheme was uncovered after he and his wife defaulted on a loan they had taken out to refinance their Catonsville property. The loan, which was funded by another mortgage company, resulted in a loss of nearly $140,000.
The Maryland Mortgage Fraud Task Force, which includes representatives from the Federal Bureau of Investigation, the Federal Housing Finance Agency, and the U.S. Postal Inspection Service, was instrumental in uncovering Christian’s scheme.
Christian’s sentencing is a major victory for law enforcement agencies seeking to protect consumers from mortgage fraud and promote the integrity of the credit markets.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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