Dontaya S. Devore, Mortgage Fraud, Pennsylvania 2009

A Philadelphia woman has been charged with participating in a multi-million dollar mortgage fraud scheme that involved over 100 properties in the city, authorities announced today.

Dontaya S. Devore, 38, of Philadelphia, was charged today by Information with participating in a mortgage fraud conspiracy involving more than $20 million in fraudulent loan proceeds, announced United States Attorney Zane David Memeger.

Devore is charged with conspiracy to commit loan and wire fraud, false statement in connection with Federal Housing Administration loan, and loan fraud. The information also seeks the criminal forfeiture of over $467,000 from Devore.

Devore is the fourth defendant charged in this district with participating in a massive mortgage fraud conspiracy that operated between May 2004 and February 2009, primarily in the West Philadelphia section of the city of Philadelphia involving KREW Settlement Services, a Philadelphia real estate settlement company that is alleged to have been at the center of the conspiracy.

According to the information, Devore directly participated in several fraudulent loan applications by purchasing properties in her name based on the submission of false loan applications and other false documents.

The other three co-conspirators charged in this district with participating in the same mortgage fraud conspiracy involving KREW are Willie G. Manley Jr., Eric Ponder, and Rashika J. Moon.

If convicted, Devore faces a maximum possible sentence of 37 years imprisonment, 5 years supervised release, a fine of $1.5 million or twice the value of the property involved in the transactions, and a $300 special assessment.

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