A married couple from St. Joseph has pleaded guilty in federal court to identity theft and mortgage fraud totaling $184,000. Tyrone and Stephanie Davis, co-owners of Davis Custom Homes in St. Joseph, have admitted to their involvement in a fraud scheme that used stolen identities to obtain loans on several residential properties.
Tyrone Davis has admitted that, from March 1 to November 1, 2006, he participated in a conspiracy to defraud banks and mortgage lenders by receiving fraudulent loans, with conspirators preparing and submitting fraudulent bank loan or mortgage loan applications containing false information and forged signatures in order to receive bank or mortgage loans.
Stephanie Davis pleaded guilty to the interstate transportation of stolen property, related to the wire transfer of $166,000 obtained through mortgage fraud.