Real estate appraiser pleads guilty in mortgage fraud scheme

Local News

October 17, 2006

Anonymous Picayune Item Tue Oct 17, 2006, 11:10 AM CDT

JACKSON, Miss. — Loretta Joy Champ, a real estate appraiser, has pleaded guilty to her role in a mortgage fraud scheme in the Hattiesburg and Laurel areas.

Champ entered the plea Monday in federal court in Jackson. No sentencing date was announced.

In March, Michael T. Cox, of the Oak Grove area, and Jacquelyn B. Mosley, of Hattiesburg, each pleaded guilty in the case.

Federal prosecutors said Cox prepared fake financial statements between December 2000 and November 2002, and Mosley prepared false and inflated property appraisals, according to the release.

Ten people allegedly involved in the scam were named in February in a separate federal indictment, which outlines the scheme to inflate appraisals and use fraudulent documents to obtain mortgage loans.

Champ, in her plea, admitted she conspired with Richard Lucas, who was charged separately in the alleged mortgage scheme.

Lucas has pleaded innocent to charges of bank fraud, nine counts of wire fraud and conspiracy to commit bank fraud, wire fraud and money laundering.

U.S. Attorney Dunn Lampton said Champ was employed at J&J; Appraisal Services with Mosley. Lampton said Champ admitted that she prepared false appraisals for property to be acquired by associates and clients of Lucas.

Lampton said those appraisals gave the false impression that the properties were worth more than they were. Lampton said the appraisals led banks to lend more money than they would have for the properties.

Text Only

Local News

PAINTING HYDRANTS
Firefighters with Picayune Fire Department conduct regular maintenance on the city’s many fire hydrants, such as giving them a fresh coat of paint.

May 28, 2012 1 Photo
Two charged with making meth around kids
Two parents were arrested for allegedly making and possessing methamphetamine, while their children were in the home.

May 28, 2012
Unemployment rate down slightly
Pearl River County’s unemployment rate dropped slightly between March and April of this year.

May 28, 2012
PMHS GRADUATION
Picayune Memorial High School held its graduation ceremony Thursday night where the school’s valedictorian Jared Christopher Bates, left, and salutatorian Bryce Austin Warden gave their speeches.

May 26, 2012 1 Photo
POPLARVILLE GRADUATION
Poplarville High School held its graduation ceremony Thursday night where the school’s valedictorian Rebecca Starke, left, and salutatorian Meagan Whitworth gave their speeches to the graduating class, parents and friends.

May 26, 2012 1 Photo
Local man paralyzed by juvenile shooting
Medical personnel were teaching a local man how to swallow again on Saturday after his spinal cord was severed by a .22 caliber bullet, fired by one of three juveniles, on Thursday.

May 26, 2012
Potential bridge replacement fund shortage draws discussion
Despite a lengthy agenda for Pearl River County supervisors Wednesday the board handled many of the items with a straight up and down 5-0 vote.

May 26, 2012
Glade Woods dies
Funeral services for Earl Glade Woods , 75 of Picayune, are Monday at 11 a.m. at First Baptist Church of Picayune. Woods passed away on Friday.

May 26, 2012 1 Photo
MHP on patrol for holiday
Even though there has been a remarkable reduction in the number of fatalities in Mississippi over the past seven years, last year’s Memorial Day Weekend was particularly deadly.

May 26, 2012
POLICE MEMORIAL
City employees were out at the Picayune Police Department memorial Thursday morning doing some upgrades to it.

May 25, 2012 1 Photo
More Local News Headlines

Local News

Search Results

Real estate appraiser pleads guilty in mortgage fraud scheme

Site Map

Contact Us