Beware of mortgage frauds especially from people who act holier-than-thou.  They turn out to be not so holy after all, but really good racket agents.

A Martin County, Florida Jury convicted Pastor Rodney McGill and his wife Shalonda McGill, of mortgage fraud.  They lured their victims through what they called a real estate investment “opportunity” which was actually a mortgage fraud scheme that was intended to free the McGills of their mortgages.  But now, they are not free at all, and are even facing up to 170 years in prison.

The jury was told by the prosecutors that Rodney McGill took advantage of his radio program by holding a contest wherein listeners could become one of the “Fabulous Five” or five winners who would get multi-million dollar money-making advice from the pastor through real estate investments.  The radio station had at least three callers who gave away their social security numbers and other financial info.

The McGills showed the victims properties that were supposedly “selected” for them, but in reality, these properties they were offering up as potential investments, were each owned by the defendants.  The prosecutors pointed out that the McGills even had their victims lying about their income and other information to get mortgages for their properties.  They were able to steal more than a million dollars from banks through this scheme, and were able to pay down their debts, but left their victims with a ruined credit.

The defendants were arrested in September 2008 and will be sentenced in September 2009.  The Department of Financial Services and the Office of Financial Regulation investigated the case and was prosecuted by the Attorney General’s Office of Statewide Prosecution in partnership with the State Attorney Bruce Colton of the 19th Judicial Circuit.