Mortgage fraudsters sentenced, indicted in California and Florida

If convicted, Morizono and Lim face up to 30 years in federal prison and a possible $1 million maximum fine.

The Federal Housing Finance Agency – Office of Inspector General, US Postal Inspection Service, Housing and Urban Development conducted the investigation with the assistance of the Federal Trade Commission Criminal Investigation. Assistant US Attorneys Kate Suh and Jay Hileman are prosecuting the case.

In a separate case, a disbarred attorney in Florida was sentenced for four years in prison for conspiring to commit bankruptcy fraud and defrauding clients of $1.3 million, according to the US Department of Justice.

James Lee Clark, 61, was sentenced to 48 months in federal prison. According to court documents, from January 2010 through February 2017, Clark, who was a licensed attorney, conspired with his paralegal, Eric Liebman, to defraud mortgage creditors and guarantors holding notes on properties in foreclosure, officials said. Clark and Liebman falsely and fraudulently represented to distressed homeowners that they would negotiate with creditors and guarantors to prevent foreclosures in exchange for the homeowners’ execution of quitclaim or warranty deeds for the properties to an entity controlled by Liebman, according to Department of Justice officials. Clark and Liebman also convinced the homeowners to pay rent or agree to sell their houses, it was suggested.