VA Mortgage Executive Sentenced for Fraud
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Posted: 12:02 PM Jul 29, 2009
VA Mortgage Executive Sentenced for Fraud
RICHMOND, Va. (AP)
A mortgage executive has been sentenced to three years and nine months in federal prison for mortgage fraud and wire fraud.
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A mortgage executive has been sentenced to three years and nine months in federal prison for mortgage fraud and wire fraud.

U.S. Attorney Dana Boente says 42-year-old Stacy Lynn Chamberlain of Unionville also was ordered to pay more than $1.2-million restitution after pleading guilty Tuesday.

According to court documents, Chamberlain lied about her credentials to get work in the field and to obtain seed money from investors to start her own mortgage company. Those investors lost about $1.2 million.

Chamberlain also used a straw purchaser and falsified documents to buy a $489,900 home in Maryland.
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