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2 Plead Guilty In Argent Mortgage Scam
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Published: May 6, 2008
Two men pleaded guilty today to mortgage fraud in Polk County, officials from the state Attorney General's Office said.
David E. Tuggle Jr. and Eric S. Steinhauser, both of Hillsborough County, confessed to submitting fraudulent mortgage loan documents to Argent Mortgage Co. through Tampa-based Sunstate Mortgage Co., attorney general spokeswoman Sandi Copes said.
From 2003 through 2005, Tuggle and Steinhauser were provided more than $34 million after nearly 300 of their fraudulent applications were approved.
Investigators believe the men paid a former Argent vice president more than $100,000 for ensuring the approval of the fraudulent loans, Copes said.
Tuggle and Steinhauser could face up to five years in prison when sentenced in September. As part of the plea agreement, neither man may be employed in the mortgage, title or real estate industries.
Stay with TBO.com for developments in this story.
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