Phoenix Man Found Guilty of Felony Fraud and Theft

Delanie Belfield Ross of Phoenix, Ariz., has been found guilty of charges related to a mortgage fraud scheme. According to court documents, Ross, along with his wife, Veronica Cooper Ross, and his brother-in-law, Willard Cooper, fraudulently obtained mortgage loans for the purchase of a $3.2 million Paradise Valley home in 1994. To obtain these loans, they created shell corporations and also used fraudulent corporate tax returns and other forged documents to create the impression that Cooper was a wealthy businessman with substantial assets. After taking possession of the house, Delanie Ross recorded fraudulent releases of the liens on the loans with the Maricopa County Recorder. He then represented the house as being owned free and clear to potential investors and obtained an $850,000 line of credit from a private family of investors, using the house as collateral. These fraudulent corporate documents and tax returns were also used to obtain leases on four SUVs from a Scottsdale automotive dealership. Sentencing for Ross is scheduled for Dec. 19. Veronica Cooper Ross pleaded guilty to hindering prosecution and attempted hindering prosecution, both felonies. She is serving a three-year probation term in Mississippi. Cooper pleaded guilty to one count of felony theft in 2005 and is also on probation in Mississippi.