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Embezzler Pleads Guilty to Stealing $14,000 from Housing Program
Fresno, CA – Raymond Cawthorne, 57, of Valley Springs, has pleaded guilty to embezzling over $14,000 from the Keep Your Home California (KYHC) Program. The program, launched in response to the 2008 financial crisis, provided eligible homeowners with temporary mortgage assistance to avoid foreclosure.
Between May 2015 and October 2016, Cawthorne used his position to embezzle funds from the KYHC program, violating the public’s trust. The program was designed to help homeowners in need, and Cawthorne’s actions are a stark reminder of the consequences of corruption.
The case is the result of an investigation by the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), a federal law enforcement agency that targets crime at financial institutions and federally funded housing programs.
Assistant U.S. Attorney Joseph Barton is prosecuting the case, and Cawthorne is scheduled to be sentenced by U.S. District Judge Dale A. Drozd on February 24, 2020. Cawthorne faces a maximum penalty of 10 years in prison and a fine of up to $250,000. The actual sentence will be determined at the discretion of the court.
As the nation continues to grapple with the aftermath of the 2008 financial crisis, cases like Cawthorne’s serve as a reminder of the importance of accountability and transparency in government programs. The public has a right to expect that those entrusted with taxpayer dollars will use them responsibly.
Cawthorne’s guilty plea is a significant step towards justice, and we hope that it will serve as a deterrent to others who would seek to exploit the system for personal gain.
The investigation and prosecution of this case demonstrate the commitment of law enforcement to protecting the public’s trust and holding accountable those who would seek to abuse it.
Key Facts
- State: California
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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