Another Pleads Guilty in Lee's Summit Scheme

April 15, 2009


A Missouri home builder is pleading guilty to his role in a multimillion-dollar mortgage fraud scheme that involved 25 luxury homes in an upscale development in Lee's Summit.

Jerry R. Emerick, 39, faces up to five years in federal prison without parole, plus a fine up to $250,000 and an order of restitution. Emerick built the homes and admitted he knew the buyers were creating fake documents and submitting false information in order to secure loans for the homes and receive kickbacks up to $125,000 per house.

In all, $12.6 million in loans were secured in the scheme that included four others: Stefan M. Guerra, 30, of Lee's Summit, Daryle A. Edwards, 37 and Leon T. Jones, 42, both of Olathe, Kan., and Judith W. Williams of Louisiana all pleaded guilty, as well.

Read story at Lee's Summit Journal