Web Search powered by YAHOO! SEARCH
                
News - Local / Metro

Wednesday, Feb. 24, 2010

Woman pleads guilty to mortgage fraud

Bookmark and Share
email this story to a friend E-Mail print story Print Reprint 0 comments
Text Size:

tool name

close
tool goes here

A 41-year-old Kershaw County woman pleaded guilty in federal court in Columbia on Tuesday to falsifying mortgage loan applications to mislead lenders.

Christie J. McGougan of Bethune could receive up to five years in jail and a fine of $250,000. She will be sentenced May 25, according to Kevin McDonald, acting U.S. Attorney for South Carolina.

FBI evidenced showed McGougan sold homes in the Lugoff-Camden area to unqualified buyers. She then got the buyers' loans approved by falsifying applications to various banks.

Today's news video

McGougan told buyers they didn't need a down payment. Many buyers later couldn't make the mortgage payments, and the homes ended up in foreclosure. Most buyers declared bankruptcy, the U.S. Attorney's Office said. McGougan made her money from the real estate sales commissions, the office said.

- John Monk

Get The State newspaper delivered to your home. Click here to subscribe.

Your comments

We encourage an open – and civil – exchange of affirming and dissenting opinions on our stories. We invite you to respectfully comment on our content as part of our interactive community.

The news you want delivered to your e-mail!

Quick Job Search