Leader of Multi-State Fraud Scheme Gets 44 Months

The leader of a multi-state fraud scheme that cost lenders at least $2.5 million was sentenced to 45 months in prison. After being convicted in April 2008 for masterminding a mortgage fraud scheme involving homes in Phoenix, Las Vegas, San Diego and other areas, Marcus Dozzell of Henderson, Nev., was sentenced while co-defendant Lutrell Sharpe received a term of 88 months in prison. According to U.S. attorney Diane J. Humetewa of Arizona, from May 2002 through May 2007, Dozzell, Sharpe and others conspired to commit mortgage fraud whereby Dozzell and Sharpe fraudulently submitted mortgage loan applications on behalf of straw buyers under false pretenses, obtaining and disbursing the proceeds of fraudulently obtained loans, including directing portions of the proceeds to bank accounts in Dozzell and Sharpe's and other defendants control. Sharpe directed others to prepare fraudulent loan applications misrepresenting salary, assets and liabilities. Ten other co-conspirators were also charged and have pleaded guilty. Sentencing for that group will come in the next few months.