Others played role in scheme

February 10, 2008
By NICOLE BROOKS Staff Writer
ELGIN -- Local loan officer Luis Uribe was the ringleader of a team of people working together who pulled off a mortgage fraud scheme that involved at least 20 area homes, phony buyers and fraudulent loans worth more than $3.8 million, according to federal officials and court documents.

Uribe, 28, recently was sentenced to almost three years in prison after pleading guilty to wire fraud.

But at least six others also were indicted in the scam that victimized Fox Valley residents, local and federal law enforcement officials say.

Uribe admitted to participating in the scheme while employed with Freedom Mortgage Team Inc. as a loan originator. He made thousands of dollars selling Social Security numbers and other personal information to would-be homeowners with bad credit -- some of them illegal immigrants -- before being caught.

The fraud was first detected and began to unravel in 2005. Now, after a lengthy investigation launched by Elgin Police Department detective Jim Roscher and continued by the FBI, Uribe and some of the scheme's other participants are being sentenced in federal court.

Two of the defendants are considered fugitives, FBI spokeswoman Cynthia Yates confirmed. Federal authorities have been unable to locate Juana Angelito, 42, and Pascual Bahena, 32, both with no last known address. Bahena is charged with wire fraud and Angelito with identification document fraud, according to court documents.

Rafael Cruz, 39, no last known address, is in custody and is scheduled to be sentenced Feb. 12 on charges of wire fraud. According to the indictment, Uribe gave Cruz the names and identifying information of his former clients with good credit histories so Cruz could obtain "false resident alien cards, Illinois State identification, or Illinois Driver's Licenses," used to "defraud lenders."

Fake home buyers

The indictment states that Cruz, Angelito and Lorena Vasquez, 32, of Elgin, would pose as the home purchasers and appear at real estate closings.

They were acting on behalf of individuals who would never be able to buy a home legally, according to Roscher.

"(One victim), he was an illegal alien, and he bought a (homeownership) packet for $14,000," Roscher said. "And he was supposed to make the payments for six months and then refinance. Well, him and his wife were both illegal aliens and would never, ever be able to qualify."

Some victims weren't charged for being duped into buying paperwork, Roscher added.

"You can't blame the people for trying to realize the American dream and buy a house," he said.

Uribe arranged for Cruz to be paid $1,000 each time Cruz or someone recruited by him posed as a homebuyer and went to a closing, according to the indictment.

Vasquez pleaded guilty to identification document fraud and was sentenced to one year of probation and ordered to pay $2,000 in restitution, according to court documents.

Beatricz Ramirez, 55, of Elgin, was a licensed real estate broker in 2004 when she assisted Uribe by "finding properties for clients and providing contracts while Uribe applied for mortgages for the properties using stolen identities," according to court documents.

Ramirez pleaded not guilty and her case went to trial. A jury in October found Ramirez guilty of wire fraud. She is set to be sentenced March 4.

Reached for comment Friday, Ramirez's attorney, Gary Jay Ravitz of Chicago, declined to discuss the case. He refused to confirm any information found in public documents about the case.

Griselda Sanchez, 30, Carpentersville, was a former client of Uribe's with a good credit history, according to court documents. She was paid "to appear at real estate closings and sign home loan and mortgage documents, well knowing that (she) was not the true purchaser of the home and would not be making the mortgage payments on the home," according to the indictment.

Uribe paid Sanchez $2,000 per home for her signature on home mortgages. She would attend closings and sign for homes, knowing that people with bad or no credit history, some illegal immigrants, would be the true homeowners, according to court documents.

Sanchez was charged with wire fraud, and on May 29 the U.S. Attorney agreed to defer prosecution for a year "for the purpose of allowing the defendant to demonstrate her good conduct during this period."

If Sanchez demonstrates good conduct as outlined in the deferment, charges against her will be dismissed.

Victims' credit ruined

As these cases come to a close, the victims of the scheme are left with ruined credit and homes they did not purchase.

Uribe was ordered by the court to pay more than $300,000 in restitution. But, as Caroline Hernandez, an attorney for two of the victims, pointed out, that money will be paid to lenders, not her clients.

"And the sad thing is, (Uribe) was making huge money already," Roscher said. "I don't know why he did this for an extra $50,000 or $60,000 a year."



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