Two plead guilty to mortgage fraud - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Two plead guilty to mortgage fraud

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FLORENCE, SC (WMBF) Two Myrtle Beach residents pled guilty to mortgage fraud in Florence on Thursday.  James Lee Putnam, 40, and Alissa Rae Smith, 29, pled guilty to Conspiracy to Make a False Statement. 

Putnam conspired with others to accept a payment of $36,500 from the proceeds of a real estate transaction.  That payment did not reflect on the settlement statement for the transaction, which was provided to the lender.  Smith received a payment over $200,000 from the proceeds of the real estate transaction and that payment was shown on the settlement statement, but was based on a fraudulent invoice. 

The guilty plea was accepted by United States District Court Judge Robert Bryan Harwell.  He will impose sentence after he has reviewed the presentence report.

The maximum penalty Putnam and Smith can receive is a fine of $250,000 and/or imprisonment for 5 years, plus a special assessment of $100.

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