Former real estate, escrow agent sentenced in mortgage fraud scheme
Walter Scott Fruit, 54, and Sandra Jackson, 48, both from Tucson, Ariz., were sentenced to federal prison by U.S. District Court Judge Cindy Jorgenson for their role in a mortgage fraud scheme, the United States Attorney’s Office for the District of Arizona said.
Fruit pleaded guilty to charges of conspiracy to commit bank fraud and conspiracy to commit transactional money laundering, while Jackson plead guilty to conspiracy to commit wire fraud.
Additionally, Fruit was a real estate agent and real estate developer and admitted to his participation in the scheme to obtain various loans between July 2006 and May 2007.
Jackson, a former escrow agent, admitted she obtained three properties through fraudulently obtained loans and that she knew documents provided to lenders on her behalf contained one or more material false representations, the U.S. Attorney's Office said.