Folsom Suspect Guilty In $19M Mortgage Fraud
SACRAMENTO, California (AP) — A Northern California man who was caught hiding $70,000 in his cowboy boots has pleaded guilty to federal charges in a $19 million mortgage fraud scheme.
Christopher Warren, of Folsom, was caught carrying the cash, $1 million in Swiss bank certificates and four ounces of platinum as he entered the U.S. from Canada in 2009.
He had flown to Lebanon, on a chartered jet a week earlier as investigators closed in.
The U.S. Attorney's Office in Sacramento says the 29-year-old pleaded guilty Tuesday to wire fraud and aggravated identity theft. The charges carry a maximum penalty of 20 years in federal prison at his April 24 sentencing.
Prosecutors say Warren stole $7 million from a Sacramento mortgage lender and another $12 million while working at a Roseville firm in 2007 and 2008.
Copyright 2012 The Associated Press.
