An eastern Nebraska woman accused in a mortgage scheme has been sentenced to five years of probation and ordered to pay nearly $423,000 in restitution.
The U.S. Attorney’s Office said Michala Cherek-Ramirez of Nehawka was sentenced Friday for conspiracy to commit wire fraud.
Prosecutors said she was employed at a mortgage brokerage and acquired seven mortgages for “a friend” for their mutual benefit. Officials say each property was acquired as a primary residence with 100 percent financing.
All homes went into foreclosure, and mortgage lenders lost nearly $423,000 in the scheme.
— AP
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