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Forest woman sentenced for role in mortgage fraud

Tuesday - 10/2/2012, 12:50pm  ET

LYNCHBURG, Va. - A former Wachovia Bank employee will spend one day in prison and three months on home confinement for participating in a mortgage fraud scheme.

Mary Novak Thompson also cannot work in a bank for 10 years. The 44-year-old Forest resident was sentenced Tuesday in U.S. District Court in Lynchburg.

Thompson had pleaded guilty earlier to making a false statement to influence the action of National City Mortgage.

Federal prosecutors say Thompson falsely filled out verifications of deposits for co-defendants Timothy Scott Brooks and Adam Spruill. She was a financial specialist at Wachovia at the time.

Brooks and Spruill each received three-year prison sentences last month. Prosecutors say they used straw buyers to fraudulently obtain mortgages on properties in the Moneta area near Smith Mountain Lake.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)