The Premiere Website For Police News In Texas

          


 

HOME PAGE

 

ABOUT US

 
SUBSCRIBE HERE
 

BUSINESS DIRECTORY

 
ADVERTISNG HERE
 

AMBER ALERTS

 

EVENTS

 

CONTACT US

 

CLASSIFIDE ADS

 

EMPLOYMENT

 

NATIONAL NIGHT OUT
2013

 

WE GET LETTERS

 

VISIT OUR SUBSCRIBERS

 

HELPFUL LINKS

 
TEXAS MOST WANTED
 

PHOTO GALLERY

 

RECORDED 
INTERVIEWS

 

ARCHIVES

 

POLICE TO CITIZEN

 

RECOMMENDED
READING

 

SOUND-OFF

 

YOUR WEATHER


 

Collin County Man Sentenced in Mortgage Fraud Scheme
US Attorney, Eastern District of Texas
   
 
More Today's News:
ߦ   Veteran Galveston Victim Assistance Coordinator Announces Retirement [PHOTO]
ߦ   Texas City Police Vote Support For County Constables
ߦ   150 Bicycle Helmets Distributed at Eat & Greet Event [PHOTO]
ߦ   An Open Letter From Galveston County Constable Jerry Fisher
ߦ   As Illegal Fishing in Gulf Grows, U.S. Fishermen Call for Stronger Policies and Enforcement
ߦ   Chief Engineer Medevaced from Cargo Ship off Galveston
ߦ   Children's coach jailed for aggravated sexual assault of a child
ߦ   Dramatic Video Shows Fatal St. Louis Police Shooting
ߦ   Emotions run high in Brazoria County murder trial [WATCH]
ߦ   EMPLOYMENT - Law Enforcement
ߦ   Family not happy with police investigation, want further probe
ߦ   Federal Jury Convicts San Antonio Man For Sex Trafficking of Minors
ߦ   Fort Worth chief issues YouTube apology for internal discrimination
ߦ   Funeral Services Announced For Retired HPD Lt. Wilbert G. (Ike) Eickenhorst
ߦ   Galveston Battle of the Badges Coming September 6
ߦ   Galveston College sets special regents meeting [AGENDA]
ߦ   Galveston Constable's Public Press Conference [WATCH]
ߦ   Galveston Police Accepting Applicants For Citizens Police Academy
ߦ   Grand jurors offended by Perry suggestion indictment was political
ߦ   Jailer said inmate bit him, jury said he didn't [MUG SHOT]
ߦ   Join the HCSO for Nextdoor Night Out!
ߦ   Lawyers: Dying death row inmate deserves clemency [PHOTOS]
ߦ   League City invites residents to volunteer for boards and commissions
ߦ   Missing Person Alert - Fort Worth Police Department [PHOTO]
ߦ   Mom Thought She Was Sleeping {PHOTO}
ߦ   MOST WANTED - Bryan Police Department [Aug 11, 2014]
ߦ   MOST WANTED - Galveston County Sheriff [Updated Aug 19]
ߦ   MOST WANTED - Texas City Police Department [Updated Aug 13]
ߦ   New group PRO-ACT to host vigil in Port Arthur in wake of Ferguson incident
ߦ   Officers arrest man wearing police tracker
ߦ   Open carry groups target Kroger stores [WATCH]
ߦ   Patrol Report August 21, 2014 - Corpus Christi Police Dept.
ߦ   Police press conference about woman's murder [WATCH]
ߦ   Police seek perp in Baytown robbery, kidnapping [PHOTOS]
ߦ   Police Shoot & Kill Sex Offender Near Dallas Hotel [WATCH]
ߦ   San Antonio Man Facing Prison Sentence After Being Convicted of Sex Trafficking of Minors [PHOTO]
ߦ   Schools prepare for more students who are immigrants
ߦ   Supreme Court to hear Houston illegal alien death row case
ߦ   The Witness - The Story of Michelle Lyons
ߦ   Wisconsin Man Arrested in Texas for Federal Drug and Money Trafficking Violations [PHOTO]
ߦ   An Open Letter to Captain Ronald S. Johnson
ߦ   Arrest in Fradulent ID Card Trafficking
ߦ   Attorney General Opinion Pertaining to Early Termination of Deferred Adjudication
ߦ   Authorities trying to identify body found Brazoria County beach
ߦ   Backing the Badge Newsletter Volume 1
ߦ   Bystanders jump into action after purse-snatching in Friendswood
ߦ   Coast Guard continues search for missing man
ߦ   Community Conversations” with Sen. Cruz’s Staff
ߦ   Cops, firefighters oppose proposed cuts to deferred retirement program
ߦ   District Attorney's Daily Reports - Harris County

   Next >>
 
Search Archives:

Davilyn Walston
Public Information Officer/Law Enforcement Coordinator
U.S. Attorney's Office/Eastern District of Texas



Collin County Man Sentenced in Mortgage Fraud Scheme
 
SHERMAN, Texas – A 46-year-old Frisco, Texas man has been sentenced for his role in a mortgage fraud scheme in the Eastern District of Texas, announced U.S. Attorney John M. Bales today.
 
Michael Burnham pleaded guilty in July 2013 to conspiracy to commit bank fraud in connection with a FHA insured home loan and was sentenced to 51 months in federal prison today by U.S. District Judge Marcia Crone.  Burnham was also ordered to pay restitution in the amount of $1.3 million.
 
According to court documents, between March and August 2010, Burnham conspired with another individual, Michael Battista, to defraud Flagstar Bank, a federally insured bank.  Burnham agreed with Battista that Burnham would recruit buyers to purchase houses that Battista owned.  As an incentive to purchase the house, Burnham would promise the buyer a cash payment following the closing of the sale.  Battista and Burnham fraudulently overstated the true purchase price of the houses in sales contracts and closing documents.  This caused the buyers’ mortgage lenders, such as Flagstar Bank, to unknowingly fund purchase loans that generated more sales proceeds to Battista than what Battista was purportedly demanding for the houses. Battista then used the excess sales proceeds to pay a kickback to Burnham for recruiting the buyer, and Burnham would make the cash incentive payment to the buyer out of his kickback funds.  The scheme caused a loss to mortgage lenders of more than $1.3 million.  Burnham was ordered to make restitution in that amount to the victims of his scheme.  Battista previously pleaded guilty and has been sentenced for his participation in the scheme.  
 
This law enforcement action is part of President Barack Obama’s Financial Fraud Enforcement Task Force.
 
President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes.  The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
 
The case was investigated by the Federal Housing Finance Agency Office of Inspector General and the Department of Housing and Urban Development Office of Inspector General.  The case was prosecuted by Assistant U.S. Attorney Andy Williams.   

 
 
 

Post a comment Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Share   Share link on Twitter Tweet   Shared 1 times
© 1999-2014 The Police News. All rights reserved.