COLLIERVILLE, Tenn. - A Collierville woman will spend more than six years in prison after scamming mortgage lenders out of more than $1.5 million.
On Oct. 18, Latrice Calvin was sentenced to 75 months in federal prison in connection to a scheme to defraud mortgage lending institutions and individuals, according to official documents.
Calvin plead guilty to one-count of information charging her with wire fraud in May.
Between April 2016 and Oct. 2018, Calvin made false statements and representations to mortgage lenders and individuals through her company, Trinity Home and Investments, in order to convince lenders to fund and invest more with Trinity.
After her prison sentence, Calvin was ordered four years of supervised release.
Official documents show that she was also ordered to pay $1,524,564.28 in restitution to the lenders and investors, as well as a money judgment to the United States for the same amount.
"The defendant used her position of trust and authority to steal proceeds for her personal benefit, and her dishonesty has been exposed. We are pleased that justice has been achieved on behalf of the victims, and we commend the FBI for their outstanding investigation in this disturbing case." said U.S. Attorney D. Michael Dunavant.
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