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Church Members Recruited in Mortgage Fraud Scheme
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May 1, 2009
A husband and wife have been arrested on charges they defrauded fellow church members and lenders in a $33 million mortgage fraud scheme.
Terrance George Tucker and his wife, Sonya Delores Wodke Tucker, both 64, have pleaded guilty to bank fraud after being arrested by U.S. Secret Service agents last fall, they remain in custody. The pair are scheduled to be sentenced July 13 in Los Angeles.
The Tuckers reportedly scammed at least nine victims running the scheme out of their company office, Tucker Mortgage in Thousand Oaks, Calif. and San Diego. Fraudulent loans, using overstated income and misrepresented employment and down payments were submitted to lenders including Washington Mutual, Bank of America, Chevy Chase Bank, Wells Fargo Bank and Downey Savings.
A luxury motor home the couple were living in at the time of their arrest was seized by the government; the couple will also forfeit more than $4.5 million in cash and 12 homes they owned.
Read story at Mountain News
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