SHERMAN, Texas – Jose Antonio Caballero, a 55-year-old former Dallas mortgage broker, has been hit with hard charges after pleading guilty to orchestrating a massive mortgage fraud scheme that defrauded federal agencies.
Caballero, who owned American Processing Center, was arrested and pleaded guilty for his role in falsifying documents, including hardship letters and income worksheets, to obtain extensions and renewals on loans for homeowners in various Texas cities. His fraudulent activities spanned from March 2011 to December 2011.
According to court documents, the scheme targeted homes insured by the Department of Housing and Urban Development (HUD), with Caballero engaging in similar conduct involving at least 20 properties across Dallas County. Some of these properties were secured by Fannie Mae and Freddie Mac.
The former broker now faces up to two years in federal prison upon sentencing, which has yet to be scheduled. This law enforcement action is a part of President Barack Obama’s Financial Fraud Enforcement Task Force, a coordinated effort to investigate and prosecute financial crimes.
This case was jointly investigated by the Department of Housing and Urban Development Office of Inspector General and the Federal Housing Finance Agency Office of Inspector General, with prosecution handled by Assistant U.S. Attorney Christopher A. Eason.
Stay tuned as we bring you more on this hard-hitting financial fraud story.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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