Rainbow City Woman Pleads Guilty to Mortgage Application Fraud and Embezzlement

February 25, 2010

by Alabama RealEstateRama

HUNTSVILLE, AL – February 25, 2010 – (RealEstateRama) — A 56-year-old Rainbow City woman pleaded guilty Wednesday in federal court to charges of bank and mortgage fraud that totaled more than $500,000, U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Patrick Maley announced.

ROXANNE SAUNDERS GILLILAND entered guilty pleas before U.S. District Judge C. Lynwood Smith, Jr., to one count of making false statements on a mortgage loan application and three counts of bank fraud. She agreed to forfeit $577,796 to the government as proceeds of illegal activity.

According to GILLILAND’s plea agreement and other court documents, GILLILAND was an employee of Dawson Construction Company in Gadsden and, between March 2005 and October 2008, fraudulently withdrew the $577,796 from personal and business accounts connected to the company. Also, in April 2007, GILLILAND submitted a personal home mortgage application in which she claimed a business account of Dawson Construction as a personal asset in order to obtain a mortgage loan she would have been otherwise ineligible to receive.

“Any individual who commits both bank and mortgage fraud becomes a serious threat to our community. This defendant’s criminal fraud struck at both our local businesses and financial community. It is our mission to deal with these individuals swiftly and decisively in order to deter others from committing similar crimes,” Vance said.

The maximum sentence for counts one through four is 30 years in prison and a $1 million fine.

Special agents of the FBI investigated the case, which Assistant U.S. Attorney Patrick Carney is prosecuting for the government.

Contact:
United States Attorney’s Office
Northern District of Alabama
Contact: (205) 244-2001