Howard Goldsmith, Mortgage Fraud, North Carolina 2023

Raleigh, NC – In a federal court hearing on [no specific date mentioned] in Raleigh, North Carolina, 41-year-old Howard Goldsmith was sentenced to 30 months in prison for his role in a mortgage fraud scheme.

According to documents, Goldsmith and his conspirators carried out a fraud upon various banks and lenders using entities he owned or controlled, including Ganyard Farm Construction and Baldwin Estates.

Between August 2006 and February 2009, Goldsmith and his co-conspirators would develop various properties through Ganyard Farm Construction and Baldwin Estates, and then fraudulently supply down payment funds to unqualified buyers on numerous loans.

The fraudulent down payments were not identified on the HUD-1 Settlement Statements that were supplied to the lenders at the time of closing. Goldsmith and others also paid kickbacks to various individuals who assisted in orchestrating the transactions.

Goldsmith was ordered to pay $808,025 in restitution and to forfeit $1,050,400.50 and 9 properties located in Wake and Durham counties.

The investigation of this case was conducted by the Internal Revenue Service – Criminal Investigation, the Federal Bureau of Investigation, and the United States Department of Housing and Urban Development Office of the Inspector General, with the assistance of the Raleigh Police Department.

Assistant United States Attorney William M. Gilmore represented the United States in this case.

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