Brookwood Man Sentenced to 18 Months in Prison

35-year-old Scott Eric Perry was sentenced to 18 months in prison on false statement charges connected to an almost $750,000 mortgage fraud scheme.

Beginning Around the end of February 2006 through December , 21 2006, he sold several  properties to a variety of buyers throughout the Birmingham area.  He allegedly signed and submitted required Housing and Urban Development statements that should have disclosed the payments of all money associated with a transaction and which parties made each payments.

Perry, doing business as Master Industries, bought houses in Jefferson County for the purpose of reselling them.In each of the transactions a HUD-1 settlement statement is required. The form is used to disclose who is to pay and who is to receive money as a part of the real state transaction. Perry failed to disclose that he made the down payments and paid the purchasers at least $3,000 as an incentive to buy the properties. Lenders would have never authorized or approved these loans if they had known the settlement statement was not true and accurate as Perry stated.

U.S. District Judge Karon O. Bowdre ordered Perry to serve 18 months in prison and to pay $746,865 in restitution to Wells Fargo, J.P. Morgan-Chase and Bank of America. Perry is scheduled to report to prison September 12, 2012.

U.S. Attorney Joyce Vance said that, Mortgage Fraud harms banks and lending institutions. It also damages neighborhoods and communities.

Perry agreed to plead guilty so the government would drop 30 charges against him. The charges included, 17 charges of wire fraud and 13 charges of making false statements to a lending institution. The charges were all dropped except for four counts of making false statements.

Leave a Reply

Your email address will not be published. Required fields are marked *