Columbia man pleads guilty in mortgage fraud scheme

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COLUMBIA, SC (WMBF) - A 36-year-old man has pleaded guilty to wire fraud and illegally using a Social Security number in a mortgage fraud scheme, U.S. Attorney W. Walter Wilkins announced Thursday.

Officials say Randal Antoine, of Columbia, devised a scheme in 2008 to defraud AmeriDream, Inc., a company that provides down payment assistance to first-time homebuyers.

Antoine pleaded guilty to posing as a mortgage loan originator and applying to AmeriDream for funds on behalf of his clients. Officials say he used stolen identities and Social Security numbers of midlands residents to apply for the funding.

Between February and September 2008, Antoine alleged 38 different loan closings would be taking place, causing AmeriDream to transfer $328,000 in funds to the man.

Wilkins says the 38-year-old will be sentenced in March 2010. He faces a possible sentence of 30 years in federal prison and a fine of $500,000.

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