Category: Fraud

In assembling the buyer’s (VICTIM 1) mortgage application, Williams knowingly misrepresented buyer’s assets. Williams indicated Net Worth (“a” minus “b”) assets of $46,978, which amount did not represent assets, but actually, the liability of funds borrowed in “cash back” schemes of two previous condo units at the Yosemite Street Condominium complex.
On the same page of the same form, Total Liabilities list the buyer’s combined three mortgages as $303,757, which is about $20,000 less than they actually total.

On the application filled out by Williams for the sale of a unit in the Yosemite Street Condominium complex: “Line 8. Is this transaction among related parties? Indicate whether the buyer or seller are related.”
Williams falsely checked the box that indicates “No.”

Williams committed this fraud to conceal existing and planned extensive fraud that he had devised, using his ignorant cousins VICTIM 1 & VICTIM 2, who now admit partial complicity, to quickly create hundreds of thousands of dollars of “profit” on distressed, long-vacant buildings.

This incident perpetrated for the purchase of a unit in the Yosemite Street Condominium complex with VICTIM 2, Williams added his client’s name to William’s own business checking account, and then included statements from that account with the mortgage application to mislead the lender into believing that the deposits in William’s own checking account actually represented the buyer’s income. 
Also, months after the closing, the buyer learned from the Uniform Underwriting and Transmittal Summary, Section III, Underwriting Information, that his income was falsely indicated, “Stable Monthly Income,” Base Income $10,000 for the buyer. 

Williams successfully urged his client (VICTIM 2) to obtain a fraudulent Verification of Rent affidavit related to the purchase of a property located on Downing Street in Denver, CO. The buyer acknowledges guilt in this instance of fraud, while other criminal behaviors he learned of only after the fact, analyzing the documents that had been prepared for him by Williams. In a later effort to qualify this same buyer for a $480,000 property, Williams himself added a “1,” in front of the already fraudulent $300 a month, in an attempt to turn this document into a verification of rent for $1,300 a month.

Williams added his client’s name to William’s own business checking account, and then included statements from that account with the mortgage application to mislead the lender into believing that the deposits in William’s own checking account actually represented the buyer’s income. Mortgage Broker Javier Sandoval with Equity Financial Resources adamantly claimed to a group of buyers and others that this practice was legal and also acceptable within the industry. This incident related to the purchase of property located on Downing Street in Denver, CO; VICTIM 2.

Williams prepared and filed buyer’s mortgage application (VICTIM 1), and further exaggerated the buyer’s income, from the inflated $3,000 a month claimed for the previous Unit 11 (@ Yosemite Street Condominiums), to now, falsely claiming the buyer earned $5,000 a month. The buyer acknowledges guilt in some of the fraud, and other fraud he learned of only after the closing, reviewing the documents that had been prepared for him by Williams.