White-Collar Crime

Closing attorney gets 7 months, must repay $2.1M in loan-fraud case

A Texas lawyer got seven months in federal prison and was ordered to repay $2.1 million after pleading guilty last year to misprision of a felony in a real estate loan-fraud case.

Jerry Goh, 51, was sentenced Monday in Dallas in the Northern District of Texas case. He has until May 26 to report to prison, the Associated Press says.

A FBI press release last year said Goh, acting as an escrow agent, released nearly $500,000 of lender funds from Prosper Bank to the seller, knowing that most of the money would be used by the buyer as a “down payment” on her Prosper Bank loan.

He practices in the Dallas-Fort Worth area.

Hat tip: LoanSafe.org

We welcome your comments, but please adhere to our comment policy and the ABA Code of Conduct.

Commenting is not available in this channel entry.