Lake St. Louis woman pleads guilty to mortgage fraud - KMOV.com

Lake St. Louis woman pleads guilty to mortgage fraud

(KMOV)-- A Lake St. Louis woman has plead guilty to one felony count of mail fraud.

According to court documents, between June 2005 and December 2008, Rebecca Domecillo, 48, arranged for the purchase of real estate by straw parties, or fake buyers. She applied for mortgage loans in the names of family members and supplied false information to lenders.
 
The total amount of losses to the lenders which resulted from these false mortgage loan applications is approximately $778,830. Domecillo personally profited by inflating the sale prices of the properties and submitting false invoices for repairs in the amount of $148,087.
 
Sentencing has been set for August 10, 2010. Mail fraud carries a maximum penalty of 20 years in prison and/or fines up to $250,000.

 

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