Md. Woman Admits Making $350,000 in Mortgage Fraud
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Friday, September 4, 2009; 4:56 PM
A 35-year-old Maryland woman admitted in federal court Friday that she made almost $350,000 for her participation in a mortgage fraud scheme that targeted houses in Maryland and the District during a two-year period.
Rasheeda M. Canty of Upper Marlboro pleaded guilty Friday in the District's federal court to one count of conspiring to defraud. She faces up to four years and three months in federal prison under sentencing guidelines.
Federal prosecutors wrote in court papers that Canty, a former mortgage broker, profited by charging large commissions on fraudulent loan transactions for distressed properties. Other unidentified co-conspirators benefited financially by taking out loans on the properties, federal prosecutors said.
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