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California - United States Lucette Montane Mortgage Loan Babe Most WantedWanted by the FBI for Wire FraudJune 28, 2008 
SAN DIEGO CA NEWS -- Lucette Montane is a female fugitive most wanted by the FBI for her involvement in a business partnership designed to commit mortgage fraud by obtaining money and property through false and fraudulent means. Montane is one of six individuals charged in San Diego, California, federal court with felony wire fraud. Her accomplices have either surrendered or been arrested as of today's date while Montane still remains at-large. In 2005, it's alleged that Lucette Montane and her partners opened a mortgage brokering company, Creative Financial Solutions Incorporated ("CFS"), located at 707 Broadway Avenue, Suite 1720, San Diego. CFS processed loan application packages and other documents to lenders for review and funding. CFS would obtain mortgage loans for unqualified or unknowing borrowers by concealing the true purchase price of the homes. They would submit false purchase contracts and false loan applications. CFS would intentionally conceal the fair market value of home by using misleading appraisals, submitting false bank statements, and income documentation. Then CFS would refuse to fund loans, but would collect the commissions from the lenders when the loans closed. Furthermore, all six partners were loan officers at CFS and additionally received payments from lenders, sellers, and buyers when loans closed. In total, lenders have lost nearly $3.9 million, with potential losses in excess of $5.1 million, due to foreclosures caused by these actions by Creative Financial Solutions Incorporated. Lucette Montane is described as:
The criminal investigation of Creative Financial Solutions Incorporated is part of "Operation Malicious Mortgage," an ongoing nationwide law enforcement operation coordinated by the U.S. Department of Justice and the FBI to takedown mortgage fraud schemes. During the recent months of the operation, law enforcement has identified, arrested and begun prosecution of mortgage fraud violators throughout the United States. Moreover, from March 1,2008 to June 18, 2008, Operation Malicious Mortgage has resulted in 406 defendants charged in 144 mortgage fraud cases across the country in a nationwide sweep. Operation Malicious Mortgage is the most recent coordinated sweep in an ongoing law enforcement effort to combat mortgage fraud since Operation Continued Action in 2004 and Operation Quick Flip in 2005. FBI Director Robert S. Mueller, III. said, "Operation Malicious Mortgage is a concerted, joint law enforcement and prosecutorial effort aimed at disrupting individuals and groups engaged in mortgage fraud. This operation is an example of our unified commitment to address this significant crime problem. The FBI will continue to direct investigative and analytic resources towards mortgage fraud and corporate securities fraud that threaten our nation's economy." Operation Malicious Mortgage focuses on three types of mortgage fraud; lending fraud, foreclosure rescue schemes, and mortgage-related bankruptcy schemes. Lending fraud normally involves multiple loan transactions in which industry professionals construct mortgage transactions based on gross misrepresentations about the borrower's financial status. Overstating the borrower's income or assets, using false or fictitious employment records or inflating property values are typical examples. Foreclosure rescue scams involve criminals who target legitimate homeowners in grave financial circumstances and fraudulently collect fees for foreclosure prevention services or obtain ownership interests in residential properties. Both of these fraudulent mortgage schemes may be furthered by filing bankruptcy petitions that automatically stay foreclosure. Yo, an indictment is not evidence of guilt, Lucette Montane is presumed innocent until proven guilty. Anyone with information of the possible whereabouts of Montane should call the FBI at (858) 565-1255 or contact their local law enforcement. Published by da: # # # |
