A 44-year-old Orlando woman is facing federal prison time after admitting to her role in a mortgage fraud scheme that relied on fabricated paystubs to help unqualified borrowers obtain loans.
On Wednesday, the U.S. Attorney’s Office for the Middle District of Florida announced that Kimberly Williams has pleaded guilty to a charge of conspiracy to commit bank fraud following a joint federal investigation.
According to court records, Williams and other individuals, including a male co-conspirator, created and executed a mortgage fraud scheme directed at financial institutions.
In exchange for payments from her co-conspirator, Williams created “fictitious and fraudulent paystubs” falsely indicating that the applicants worked for specific companies and earned income they did not actually receive.
The fraudulent mortgage loans obtained through the falsified records were subsequently purchased and guaranteed by government-sponsored entities, including Fannie Mae, Freddie Mac, and the Federal Housing Administration.
A sentencing date for Williams has not yet been set. She faces a maximum penalty of up to 30 years in federal prison.
The case was investigated by the Office of Inspector General for both the Federal Housing Finance Agency and the U.S. Department of Housing and Urban Development. It is being prosecuted by Special Assistant U.S. Attorney Chris Poor.