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New Orleans Man Pleads Guilty to Mortgage Fraud
A 70-year-old New Orleans man has pleaded guilty to mortgage fraud, a serious crime that has been plaguing the city’s housing market.
Theodore Kurz obtained mortgages for three properties through the State of Louisiana, Division of Administration, Office of Community Development. However, he then forged mortgage cancellations that he filed with the Orleans Parish Clerk of Court to falsely make it appear that the loans had been satisfied.
Kurz then obtained mortgages through a different lender, falsely claiming that there were no outstanding mortgages or liens on the properties. This led to a significant loss for the lenders and the State of Louisiana.
The case was investigated by the Office of Inspector General for the U.S. Department of Housing and Urban Development. Assistant U. S. Attorney G. Dall Kammer is handling the prosecution.
Kurz faces 30 years of imprisonment, 5 years of supervised release and a $1,000,000 fine. Sentencing has been set for December 12, 2019.
The U.S. Attorney’s Office praised the work of the Office of Inspector General for their diligent efforts in investigating this matter.
The prosecution of this case serves as a reminder of the serious consequences of mortgage fraud and the importance of honest business practices in the housing market.
Key Facts
- State: Louisiana
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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