WREX.com – Rockford’s News LeaderRockford Loan Officer Guilty of Mortgage Fraud
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ROCKFORD - A federal jury has convicted a 41-year-old loan officer on 14 counts of fraud.
Mitchel A. Fuchs, (also known as "Mike Fox") was found guilty of defrauding commercial lenders by giving loans to unqualified applicants. He was named in the indictment with two other suspects, Frank Anast, 59, of Rockford and Jessica Gibson, 26, of Loves Park.
According to the indictment, Fuchs was employed at Mortgage Solutions, 2222 East State Street between 2002 and August 2004. Then he worked for leader Mortgage, 1437 Myott Avenue from August 2004 to October 2005.
Gibson worked with Fuchs at Mortgage Solutions. Anast was self-employed doing computer work.
The three are accused of creating fake checks, pay stubs, credit reports and tax forms for loan customers to get them approved for loans so they could collect commissions.
Fuchs was convicted on 13 counts of wire fraud and one count of interstate carrier fraud. Each count carries a maximum sentence of 20 years in prison. He'll be sentenced February 4, 2009.
Anast and Gibson each pled guilty to one count of wire fraud earlier this year. They'll be sentenced together on November 14.
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