Woman Convicted in Mortgage Fraud Conspiracy - 8 News NOW

Woman Convicted in Mortgage Fraud Conspiracy

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LAS VEGAS -- A Las Vegas real estate escrow officer was convicted Friday of conspiracy and fraud charges for her involvement in a mortgage fraud scam.

Theresa Marcianti, 60, was found guilty of taking part in a scheme that caused millions of dollars in losses to lenders and financial institutions, said Daniel Bogden, U.S. Attorney for Nevada.

"Over the last five years, we have made the prosecution of mortgage fraud cases a priority," said U.S. Attorney Bogden. "This type of fraud was a catalyst to the real estate crisis in Nevada. Punishing those criminals for their actions should send a strong message to others who are looking to profit from the misfortune of others."

Marcianti, who worked for Lawyer's Title and National Alliance Title, was convicted on one count of conspiracy to commit bank, mail, and wire fraud, two counts of bank fraud, and one count of wire fraud. According to the indictment, Marcianti, along with others, tricked lenders into making home loans through the use of false statements. The conspirators used straw buyers to buy the homes and took a portion of the loan money for personal gain.

She is facing up to 20 years in prison and a $250,000 fire. She will be sentenced Dec. 10, 2013.

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