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St. Louis Man Admits to Bank Fraud, Lying on Mortgages Worth $1.2 Million
ST. LOUIS, Missouri – In a shocking turn of events, Edward James Mitchell Jr., a 37-year-old man from St. Louis, Missouri, has pleaded guilty to bank fraud, admitting to participating in four fraudulent home mortgages totaling more than $1.2 million.
Mitchell, also known as Musa Muhammad, pleaded guilty in U.S. District Court in St. Louis on March 26, 2024 to one felony count of bank fraud. According to court documents, Mitchell participated in the scheme from October 2021 through November 2023.
The scheme involved Mitchell’s company, Home Team Solutions LLC, purchasing four homes in St. Louis and Florissant. Mitchell then submitted fraudulent mortgage loan applications and false employment and financial information to obtain the mortgages. He used his relative’s Social Security number and birthdate to purchase two of the homes and submitted false or fraudulent documentation for the other two.
The U.S. Attorney’s Office believes that lending institutions lost $490,946 when Fannie Mae purchased the four home loans. However, Mitchell claims that only two of the loans incurred losses, with a total loss amount of $226,950.
Mitchell is scheduled to be sentenced on July 8, 2024. Each bank fraud charge carries a penalty of up to 30 years in prison, a $1 million fine, or both prison time and a fine.
Mitchell’s actions have left many in the community reeling. ‘This is a serious crime that has caused significant financial harm to many people,’ said a spokesperson for the FBI. ‘We are committed to holding those responsible accountable for their actions.’
The FBI and the Federal Housing Finance Agency Office of Inspector General investigated the case, with Assistant U.S. Attorney Kyle Bateman prosecuting the case. Mitchell legally changed his name to Musa Muhammad in October 2023.
Key Facts
- State: Missouri
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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