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Woman Guilty Of Racketeering In Mortgage Fraud Scheme

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By The Tampa Tribune | The Tampa Tribune

Published: February 13, 2008

A 37-year-old woman pleaded guilty to racketeering charges in a mortgage fraud scheme involving one of the nation's largest sub-prime mortgage companies, Attorney General Bill McCollum.

Adrienne White, formerly of Hillsborough County, pleaded guilty on Tuesday to racketeering and conspiracy to commit racketeering in Circuit Court in Polk County.

She faces up to five 5 years in prison followed by 5 years probation.

White was part of a criminal enterprise that submitted nearly 130 fraudulent documents for $13 million in home loans from Argent Mortgage Company, McCollum said.

It was consumer complaints that initiated the three-year investigation. Consumers complained about substandard and incomplete construction work done by construction companies affiliated with White's co-defendants.

Many of the victims are facing foreclosure.

White's charges are a result of her processing and approving 20 residential mortgage loans totaling nearly $3 million.

As part of her plea agreement, White is prohibited from working in the mortgage or title industries.

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