A financial services employee allegedly forged documents to obtain millions of dollars in mortgage loans.
According to new court filesAquana Raffington – a former loan officer for PrimeLending, a PlainsCapital company – allegedly falsified documents to inflate their income as a way to receive $1.7 million in mortgage loans.
The documents show that Raffington made multiple loans from PrimeLending to a company owned by her and her close family member, a move prohibited by company policy. In addition, many of the supporting documents contained false information that inflated her income.
“The asset and income statements, as well as supporting documentation, submitted in connection with these borrowers’ loan applications were fraudulent and misrepresented the borrowers’ assets and incomes to the borrowers’ advantage.
Raffington knew the underlying employment and income information was false and failed to report or otherwise prevent this fraud.”
The documents show that Raffington is prohibited from “participating in any manner in the management of the affairs of any institution or agency… including, but not limited to, an insured depository institution or a holding company of an insured depository institution, or a subsidiary of such a holding company, or a foreign bank or corporation.”
Follow us further X, Facebook And Telegram
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Surf to the Daily Hodl mix
Generated image: Midjourney
Credit : dailyhodl.com
