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Baltimore’s former top prosecutor found guilty of mortgage fraud

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(The Center Square) – Marilyn Mosby, former state’s attorney in Baltimore, faces up to 30 years in federal prison after being found guilty of one count of mortgage fraud.

She staved off a second mortgage fraud conviction.

Mosby’s guilty verdict marks the third conviction in the last few months. Federal prosecutors say the incidents occurred while Mosby was a state attorney.

Prosecutors said Mosby made false claims on loan applications to purchase two vacation homes in Florida.

“In February 2021, Mosby made a false statement in an application for a $428,400 mortgage to purchase a condominium in Long Boat Key, Florida. As part of the application, Mosby falsely stated that she had received a $5,000 gift from her husband to be applied to the purchase of the property,” according to a release from the U.S. Attorney’s Office, District of Maryland.

Prosecutors in the case say Mosby made the statement in an effort to “secure a lower interest rate” on the property. “According to the evidence presented at trial, Mosby did not receive a $5,000 gift from her husband, but rather transferred $5,000 to him, and he then transferred the $5,000 back to her,” the release said.

The embattled former top prosecutor was convicted on two counts of perjury in a separate criminal trial in November of last year. The U.S. attorney’s office said her previous convictions relate to the withdrawal of funds from the City of Baltimore’s Deferred Compensation Plan, all while serving as the city’s top prosecutor in 2020.

“According to the evidence presented at trial, on May 26, 2020, and December 29, 2020, Mosby submitted ‘457(b) Coronavirus-Related Distribution Requests’ for one-time withdrawals of $40,000 and $50,000, respectively, from City of Baltimore’s Deferred Compensation Plan,” according to a November 2023 release from the U.S. Attorney’s Office.

Evidence in the case showed Mosby “falsely certified that she met at least one of the qualifications for a distribution as defined under the CARES Act.” She said she had experienced economic hardships due to the pandemic.

“In signing the forms, Mosby ‘affirm[ed] under penalties for perjury the statements and acknowledgments made in this request,’” according to the release. “As proven at trial, Mosby did not experience any such financial hardships and in fact, Mosby received her full gross salary of $247,955.58 from January 1, 2020, through December 29, 2020, in bi-weekly gross pay direct deposits of $9,183.54.”

A sentencing date for both convictions is pending. Mosby could face a maximum of five years in federal prison for each of the two counts of perjury.

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