Husband and Wife Charged with Mortgage Fraud in San Diego
A husband and wife were charged with mortgage fraud, false statements on loan applications, bankruptcy fraud, contempt of court, perjury and money laundering in a recently unsealed federal indictment. The couple, Justine Lorraine Rice, 45, and Wendell Anthony Rice, 45, formerly of Rancho Santa Fe, were arrested in Escondido, according to the U.S. Attorney’s office.
Justine Rice allegedly lied and falsified documents to obtain a mortgage to buy a home in Rancho Santa Fe. When Rice filed for bankruptcy two years later, she arranged for a straw buyer to purchase the home, which was in foreclosure, by falsifying documents. She may have also committed escrow fraud by managing to divert the proceeds to an account controlled by Wendell Rice.
Read the Full Article in the San Diego North County Times.
