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Rita Martinez, 31, and Husband, Brother Face 30 Years in Prison for Bank Fraud Scheme
The indictment, unsealed today, alleges that Rita Martinez worked as a loan processor at a Houston area business known variously as Globan Mortgage Company, Casa Milagro and First Milagro. She allegedly submitted falsified loan applications for Gilbert and Felix Martinez and others to Farmers and Merchants Bank of Long Beach, Calif.
According to allegations in the indictment, the defendants completed loan applications containing falsified income information and provided false information about borrowers’ employment, income and assets. The indictment also provides notice of the government’s intent to forfeit their interest in the loan proceeds they allegedly obtained as a result of the bank fraud scheme, including a house in New Caney, which was allegedly purchased with loan proceeds from the purported fraud.
The maximum penalty, upon conviction, for conspiracy and bank fraud is 30 years in prison and a $1 million fine. Rita Martinez, Gilbert Martinez, and Felix Martinez made their initial appearances before U.S. Magistrate Judge Mary Malloy today, at which time they were permitted release upon posting bond. They are set for arraignment on Monday, Nov. 18, at 9:45 a.m.
The case is being investigated by the FBI, United States Postal Inspection Service and the Federal Deposit Insurance Corporation. Assistant United States Attorney Belinda Beek is prosecuting.
A house in New Caney was allegedly purchased with loan proceeds from the bank fraud scheme. The indictment provides notice of the government’s intent to forfeit their interest in the loan proceeds.
The FBI, United States Postal Inspection Service and the Federal Deposit Insurance Corporation are leading the investigation into the bank fraud scheme.
Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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