The next 10 years of her life is now shot. Was she the cause of her son getting involved? If so, some way to bring up a son. Since he gets sentenced after his mother, the chances are he offered testimony against her, I believe.
FLORIDA MAN PLEADS GUILTY AND GETS FIVE YEARS IN PRISON
On Jan. 24, 2013 U.S. District Judge Steven D. Merryday sentenced Arthur R. Seaborne, 70, to five years in a federal prison for conspiring to commit bank fraud. In addition, Seaborne was ordered to forfeit $4,269,886.55 in proceeds from the offense. Restitution will be addressed at a later date. Seaborne pleaded guilty on Nov. 6, 2012.
From as early as March 2003 through July 2008, Seaborne and others conspired to commit bank fraud. Throughout that time, Seaborne used several corporate entities to perpetuate the fraud scheme, including Southeast Capital Advisors LLC. Through this entity, Seaborne marketed a “no money down” residential purchase program that operated by making loans to Seaborne’s clients, so that those clients could make down payments in connection with their purchases of residential properties.
Seaborne and his co-conspirators prepared and submitted mortgage loan applications to lenders for these same clients. The applications were fraudulent in that they omitted the fact that the clients’ down payments had been loaned to them. Further, the applications usually overstated the clients’ assets and understated their liabilities. Some apps also included a fraudulent misrepresentation that the borrower intended to make the property the primary residence, when in fact they were investment properties. Over the course of the fraud scheme, some of the loans on the residential properties went into default. Although the total loss amount has not yet been definitively determined, the losses incurred by the lenders amount to approximately $4 million. (usattymdfl12413)
Federal prosecutors indicted him for loans that occurred 10 years ago and now he gets to spend five years in federal prison with no parole. How lucky can you get?
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