Actor Tommy 'Tiny' Lister to Plead Guilty in Mortgage Fraud Scheme
Between November 2006 and June 2007, Lister, whose credits span approximately 100 movies and TV shows, purchased four homes that he knowingly couldn't afford. Prosecutors said that Lister falsified bank statements and escrow records and inflated his income in order to avoid paying down payments on the properties.
Lister had help from tax preparer Arcelia Chavez, who produced the falsified documents. Chavez also pleaded guilty in the case.
The scheme, which netted Lister $5.7 million in mortgages, cost lenders as much as $3.8 million.
Lister and Chavez have been summoned to appear in federal court in Los Angeles in September.
Fannie Mae Ranks Banks in 'Robo-Signing' Settlement as Top Servicers
Mortgage Fraud: California, New York Rank Highest, Report Says
Homeowner Says She Unwittingly Rented Home to Marijuana Grow Operation
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.
Follow us on Twitter at @AOLRealEstate, or connect with AOL Real Estate on Facebookand Pinterest.