20601A-WFNZ-the-fan-Final2 35h_CBSSportsRad_1660AM

News Home

Hickory Man Gets 30 Months In Mortgage Scheme

View Comments
Arrest warrant says Robert Kemp killed the child "by giving him a bear hug, squeezing the victim so tight that the victim stopped breathing as a result."(Getty Images)

Arrest warrant says Robert Kemp killed the child “by giving him a bear hug, squeezing the victim so tight that the victim stopped breathing as a result.”(Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

CHARLOTTE, N.C. (AP) — A Hickory man has been sentenced to 30 months in prison for his role in a mortgage fraud scheme.

The U.S. attorney’s office said Wednesday that 41-year-old Roger Dean Bailey Jr. pleaded guilty in the scheme that involved manufactured and modular homes.

Prosecutors say Bailey was a former sales manager for Homes America in Hudson. They say he persuaded customers to buy homes they could not afford by misrepresenting the financing terms.

Prosecutors also said Bailey secured loans for unqualified customers by giving lenders documents with fraudulent information on borrowers’ income, assets and credit.

Prosecutors say between 2004 and 2008, Bailey was involved in the origination of up to 154 fraudulent government-insured mortgages worth $16 million.

Bailey had pleaded guilty in 2011. Six others have pleaded guilty in the scheme.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 15,169 other followers