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Lending / The Ticker

Mortgage broker sentenced in mortgage fraud scheme

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U.S. District Court Judge Ann Aiken sentenced Peter Wilkinson, 43, of Eugene, Ore., and six others for their respective roles in a $7 million mortgage fraud scheme, the U.S. Department of Justice said in a press release.

Wilkinson knowingly submitted almost 60 bad loans for more than 30 properties, causing lenders to lose between $2.5 million and $7 million, the DOJ said.

Furthermore, Wilkinson pocketed more than $500,000 from these loans. He was sentenced to 57 months in prison and five years of supervised release. 

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