Related Federal Cases
- Mervyn A. Phelan, Sr., Loan Fraud, Maryland 2000 · New Mexico
- Jagveer Singh, Securities Fraud, Maryland 2015 · Washington
- Ramon Ingram, Bank Fraud, Maryland 2015 · Maryland
- Jimoh Babatunde Aderomilehin, Bank Fraud Conspiracy and Aggravated Identity Theft, Maryland 2018 · Maryland
- Wanisha D. Coates, Bank Fraud Conspiracy, Maryland 2012 · New Hampshire
Rockville Man Convicted of Mortgage Fraud Scheme
Greenbelt, Maryland – Edgar Galdamez, a 36-year-old man from Rockville, Maryland, pleaded guilty to wire fraud charges in connection with a mortgage fraud scheme that resulted in losses of over $515,000.
The guilty plea was announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge Stephen E. Vogt of the Federal Bureau of Investigation.
According to his plea, from at least September 2006 through May 2007, Galdamez and others contacted individuals who wished to purchase homes as investment properties. Galdamez and others then intentionally prepared and submitted false loan applications in the buyers’ names to the lending institution to qualify these individuals for loans that they otherwise were unqualified to secure.
Galdamez will be required to forfeit at least $515,500 and pay restitution. He faces a maximum penalty of 30 years in prison and a $1 million fine. U.S. District Judge Peter J. Messitte scheduled sentencing for November 5, 2013 at 9:30 a.m.
The Maryland Mortgage Fraud Task Force was established to unify the agencies that regulate and investigate mortgage fraud and promote the early detection, identification, prevention and prosecution of mortgage fraud schemes. This case, as well as other cases brought by members of the Task Force, demonstrates the commitment of law enforcement agencies to protect consumers from fraud and promote the integrity of the credit markets.
Today’s announcement is part of efforts underway by President Obama’s Financial Fraud Enforcement Task Force (FFETF) which was created in November 2009 to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes.
United States Attorney Rod J. Rosenstein commended the FBI for its work in the investigation and thanked Assistant U.S. Attorney Sujit Raman, who is prosecuting the case.
Key Facts
- State: Maryland
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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