Metro area Realtor pleads guilty!

[metro]

I know when I was a Realtor a few years back, she sure thought she was "it".




Prominent Realtor pleads guilty in real estate fraud

By Richard Mize
Real Estate Editor

Prominent Edmond Realtor Ann Campbell pleaded guilty Wednesday to a federal felony charge of conspiracy to commit wire fraud in connection with mortgage fraud in the sale of a home in Edmond's upscale Oak Tree addition.
U.S. District Judge Joe Heaton will sentence Campbell, 66, later. The charge carries a penalty of up to five years in prison and a fine of up to $250,000.

Campbell, as a longtime top-producing Realtor in the Oklahoma City metro area, is the best known of several people involved with the scheme. She was not available for comment after her court appearance, but she remained free after posting a personal recognizance bond.

Campbell could lose her state-issued real estate license, according to the Oklahoma Real Estate Commission, which is conducting its own investigation. No hearing has been set, Executive Director Anne Woody said.

Campbell also probably will lose her membership in the Edmond Board of Realtors, Oklahoma City Metro Association of Realtors, Oklahoma Association of Realtors and National Association of Realtors, said Walter Moloney, spokesman for the national group in Washington.

"That's definitely a violation of the (Realtors) Code of Ethics,” Moloney said Wednesday afternoon, noting that it would be up to Campbell's main local board to consider any ethics complaints and take any action against her Realtor membership.

John Rice, president of the Edmond board, said he did not know of any ethics complaints made against Campbell. Mike Cassidy, president of the metro area association, could not be reached.

Assistant U.S. Attorney Susan Cox, reading from court documents, summarized the scheme before Heaton accepted Campbell's plea.

Campbell was involved in three home sales in Oak Tree that involved mortgage fraud, Cox said. Campbell pleaded guilty to conspiracy to commit wire fraud in the sale of a home at 5916 Morning Dove Lane, not far from her own home.

Cox said Campbell, representing the seller of the house, conspired with a Realtor representing the buyer to falsify a document that said the seller would pay certain closing costs that then were "kicked back” to the buyer through a title company account belonging to Campbell.

The original list price of the home, $235,000, was raised to $310,000 on documents used at closing, Cox told the court.

Earlier Wednesday, Dalton Joe Alford, the buyer of the house, pleaded guilty to engaging in a monetary transaction in criminally derived property and aiding and abetting.

The charge carries a penalty of up to 10 years in prison and fine up to $250,000.

Tuesday, Toney Charles Mykel, also in connection with the case, pleaded guilty to misprision of a felony — not reporting a felony he knew to have been committed.

The charge carries a penalty of up to three years in prison and fine up to $250,000. Mykel held a real estate license until 2001, according to the real estate commission.

Anthony Jew, charged with engaging in a monetary transaction in criminally derived property, was scheduled to enter a plea Wednesday but asked for a continuance until Monday.

The charge carries a penalty of up to 10 years in prison and fine up to $250,000.

The pleading came soon after a federal indictment that accused several others — home buyers, real estate sales people and a mortgage broker — of wire fraud, money laundering and other offenses in attempts to defraud lenders in buying homes in Oak Tree.

They tentatively are scheduled for trial in March.

Houses at 1000 Irvine Drive, 1709 Irvine Drive, 5813 Dundee Terrace, 5916 Morning Dove Lane, 6125 Stonegate and 1208 Troone Drive in Edmond were involved.

[Martin]

maybe i'm crazy, but it almost sounds as if someone from the mortgage company would have to be 'in on it', too. What mortgage company would lend $310k for a $235k home... the mortgage company is going to appraise the house and there's no way it could legitimately appraise for 75k over the sale price. -M

[Pete]

Talk about greed...

This lady was one of the top selling realtors in OK but she still was willing to commit fraud to sell a few more homes?

Now, she's lost everything business-wise. She'll likely lose her license but even if she doesn't, who the heck would ever work with her in the future?


And OKC is a pretty small business community and even if she doesn't go to jail, whe won't be able to show her face around town for quite a while.

[Martin]

likely lose her license? nope... being convicted of a felony, she has no way of maintaining her license.

but yeah... greed is the undoing of so many people. -M

[metro]

mmm actually you're not crazy. there were like 7 or 8 people accused in this including mortage company and I think the appraiser to. It was a "ring". I know there are a few more out there in this city and hopefully they'll be caught one day. Also yes you can get more out on a house than it's worth. There are certain loan programs out there, and if your net worth is enough, you definitely can. It's not like its an everyday practice, but its doable.

[Karried]

Yeah, this has rocked the real estate world in OKC .. Ann Campbell was 'the' Realtor.. I'm not sure of all of the details but it is really damaging to her career any way you look at it. She is 66 years old looking at 10 years in prison plus a 250K fine..

7 indicted in Oklahoma flipping scheme

Posted on Monday, November 13, 2006 at 05:33PM

On November 8, 2006 a Federal Grand Jury in Oklahoma handed down an indictment charging that (at least) seven people were engaged in schemes to defraud various mortgage lenders by artificially inflating the sales prices of homes and submitting false loan applications. The case is being prosecuted by the United States Attorney’s Office in Oklahoma City and is being investigated by agents of the FBI.
The seven people mentioned in the indictment are:





Brandon L. Baum (pictured above), a real estate agent and controller of Secorum Investments
Gayle L. Caldwell owner of Access Marketing Services, Inc and wife of Charles Caldwell
Joseph Conrad Therrien a borrower/purchaser
Charles E. Caldwell, Jr a mortgage broker with United Lending of Oklahoma City
Teresa M. Therrien a borrower/purchaser
Rusty Real Therrien a borrower/purchaser
Timothy J. McDaniel a borrower/purchaser
The scheme involved potential home buyers, represented by Baum, being told that if they agreed to purchase homes at inflated prices they would receive funds at closing under the guise of “repair costs” which would be for their personal benefit. Sellers of certain hard to sell properties negotiated the sales through Baum. Baum would always offer more than the listed sales price.
Brokers at United Lending facilitated the submission of fraudulent loan applications to lenders for buyers who could not qualify to purchase homes at the artificially inflated prices. False details of income and assets were supplied on the 1003’s (applications). In some cases buyers represented by Baum would be provided with “down payment loans” which were to be repaid from the funds they received at closing.
The properties listed in the indictment are:
1000 Irvine Drive , Oak Tree Subdivision, Edmond, OK
1709 Irvine Drive , Oak Tree Subdivision, Edmond, OK
5813 Dundee Terrace, Oak Tree Subdivision, Edmond, OK
5916 Morning Dove Lane, Oak Tree Subdivision, Edmond, OK
6125 Stonegate Place , Oak Tree Subdivision, Edmond, OK
1208 Troone Drive , Oak Tree Subdivision, Edmond, OK

Please click here to see the indictment.

An internet search reveals that Brandon Baum is/was a realtor with the Joplin, MO office of Charles Burt.

All persons mentioned in this story are considered innocent of any crime until it is proven otherwise. The information published here is taken from publically available sources and no inferences should be drawn from it.

Update on Thursday, November 30, 2006 at 08:18AM by
On November 22, 2006 three more people were charged by way of a Criminal Information with offences related to this case.

Ann Campbell, a sales associate with REMAX in Edmond (click here for her website) was charged in conspiracy inrelation to her actions in the Morning Dove Lane poperty which, it is alleged, was subject of an inflated purchase price and falsified loan documents. Campbell is due to enter a plea on December 13, 2006.

Dalton J. Alford is charged with aiding and abetting and engaging in a monetary transaction in criminally derived property. Click here to read the information.

Toney Charles Mykel is charged with misprison of a felony in that he failed to report a felony offense he knew had been committed. Click here to read the information.



Update on Wednesday, December 13, 2006 at 03:00PM by
On Wednesday 13, 2006 Ann Campbell pleaded guilty to a federal felony charge of conspiracy to commit wire fraud. She is due to be sentenced sometime in the new year.

[redredwine]

It is unbelievable. I grew up in Edmond and she has been around for as long as I can remember. I know some realtors who always had some not so nice things to say about her, personally I do not know her so would not comment, but that is just so unethical and WHY, it is not like she REALLY needed the extra money like Malibu said, and ruined her career over something she already had, "income".

[metro]

Realtor could see license suspended
Panel rebuffs consent accord in Oak Tree mortgage fraud case.

By Richard Mize
Real Estate Editor

Edmond Realtor Ann Campbell's state-issued real estate license is on a new track toward suspension.
The Oklahoma Real Estate Commission on Wednesday rejected a consent agreement crafted by agency staff that would have considered Campbell's license inactive and halted further state action against her, pending her sentencing in federal court.

Campbell pleaded guilty Dec. 13 to a federal charge of conspiracy to commit wire fraud in connection with mortgage fraud.

The commission set an emergency meeting for Jan. 31 to consider summary suspension of her license.

Commission members then will have 30 days to meet to consider the merits of its case against her, said Anne Woody, executive director.

Campbell is the most prominent of several people facing charges in connection with alleged mortgage fraud involving the sale of homes in Edmond's upscale Oak Tree addition.

She was not present for Wednesday's meeting.

The commission also has opened an investigation of Ruth Boss, Campbell's sponsoring broker and co-owner of RE/MAX Associates in Edmond, Woody said.

The commission is awaiting further court action before taking its own actions against other real estate license holders under indictment in connection with mortgage fraud investigations in Edmond, Woody said.

[metro]

Realtor's license pulled

Richard Mize
Real Estate Editor

The Oklahoma Real Estate Commission summarily suspended Edmond Realtor Ann Campbell's real estate license Wednesday during an emergency meeting over the protests of her attorney, who insisted that since she has quit the business she poses no threat to the public.
Campbell's state-issued license came under scrutiny after she pleaded guilty Dec. 13 to a federal charge of conspiracy to commit wire fraud in connection with mortgages in the sale of homes in Edmond's Oak Tree addition.

Campbell's efforts to postpone the commission's actions failed Jan. 11 when commissioners rejected a consent agreement penned by agency staff that would have considered her license inactive and stopped further state action until after her sentencing in federal court. Commissioners rejected it partly because Campbell could have reactivated her license any time, Executive Director Anne Woody said.

Her sentencing is not expected to come until after the trials of others allegedly involved in mortgage schemes. She is expected to testify in those trials. By doing so, Campbell could receive a lesser sentence and lesser fine for her part in the fraud allegations.

Testifying in the federal cases, however, could reveal evidence that could be used against her in the state commission's case. Commissioners, however, were unwilling to wait. Some said the commission owed it to the public to act immediately and not wait for completion of the federal case.

Vice Chairman Randall Saunier of McAlester said he wanted "to send a message to the real estate community” that the commission takes fraud seriously.

Saunier moved for summary suspension of Campbell's license. Chairman Charles Barnes of Choctaw seconded it. Commissioners John Mosley of Chickasha and Stephen Sherman of Oklahoma City voted for the suspension. Commissioner Mike Cassidy of Oklahoma City abstained from voting. Commissioners Pete Galbraith of Sapulpa and Martin Van Meter of Durant were absent.

The commission will meet Feb. 28 to consider disciplinary action, which could include revocation of her license and a fine up to $5,000. Coincidentally, that is the day Campbell's license is set to expire, Woody said.

Campbell's lawyer, former U.S. Attorney Dan Webber, failed to persuade the commission to reconsider its rejection of Campbell's voluntarily placement of her license on inactive status.

The scheme at Oak Tree involved artificially inflating the sales prices of homes and falsifying loan documents, prosecutors allege. Campbell is the most prominent charged in the investigation.

Webber said he didn't see "what the emergency is.”

"She's not operating. She shut her office and she's not being engaged in licensed activity, so she can't be a threat to the public. ... She's crossed that bridge. She's placed her license on ‘inactive' and emotionally she's crossed that bridge. She knows she's not in the real estate business right now and may not be again,” he said.

Campbell, 66, is in poor health and did not attend Wednesday's meeting.

"I told her not to come because I (thought) she'd break down,” Webber said.

"She knows she's not in the real estate business right now and may not be again.”

Dan Webber, Ann Campbell's attorney

[mranderson]

Only suspended. Not "pulled." There is a difference. "pulled" is a layterm for revoked, which is permanant.

[metro]

You may want to contact Richard Mize at the Oklahoman or the Real Estate Commission mranderson and correct them then.

[mranderson]

You may want to contact Richard Mize at the Oklahoman or the Real Estate Commission mranderson and correct them then.

"The Oklahoma Real Estate Commission summarily suspended Edmond Realtor Ann Campbell's real estate license Wednesday during an emergency meeting..."

This does not say "pulled," or revoked. It says suspended.

[Pete]

Wow, this woman was on top of the world and her greed completely consumed her.

Now, she's not only had to give up everything she's worked for over decades, she's been disgraced publically (I bet she's not showing her face around town these days) and sounds like she's on the verge of some sort of breakdown.

Yet, I doubt many people have sympathy for her.

[Martin]

well anderson, richard mize wrote the article and probably also wrote its title (where it contains the word, 'pulled' which so easily offends you)... so, like metro said, why don't you contact the author and inform him of his mistake.

i still don't fully understand all this wrangling... i really thought that once a person is convicted of a felony, then that person can't have a real estate license. period.

-M

[Karried]

The commission will meet Feb. 28 to consider disciplinary action, which could include revocation of her license and a fine up to $5,000. Coincidentally, that is the day Campbell's license is set to expire, Woody said.

Maybe he meant 'pulled' as in rendering her unable to practice real estate since you cannot practice with a suspended license.

Anyway, it's just semantics... it means the same thing to her.. suspended, pulled or revoked.. she is finished, done, kaput.

I know she committed fraud against a mortgage company ( maybe she was hoping the value would increase and justify the asking price) and that was horribly wrong.. but still, I do feel sympathy for her ... she did have everything and lost sight of what is important... integrity and honesty.

To end up close to the end of your life in disgrace and shame, ill health and facing criminal charges and financial ruin .. what a terrible thing.. I do feel sad for how it turned out for her or for anyone who made choices resulting in this type of fiasco.

[Pete]

It really is sad because she's at an age where she'll probably never be able to rebuild her reputation in any way.

Her story should be used as a cautionary tale in business school ethics classes.

[Karried]

Yes, you're right.. she won't recover I don't think.

But, I anticipate stories such as these coming to light like we've never seen in the next few months/years.

With all the speculative financing - creative loans with buyers desperate to get into the market, falsifying loan applications - mortgage brokers, appraisers, realtor, inspectors.. anyone who got caught up in the frenzy and fudged the numbers. watch out.

I imagine we'll see stories like this across the nation. In fact, I have seen quite a few recently.

[Pete]

I did want to say on the subject of white collar crime that from my experience, you have to be doing some pretty bad things over a pretty long period of time to get caught out like this.

Lots of people fudge mortgage applications and tax returns or their expense report. It's all certainly wrong but none of those things will result in serious penalty, even in the unlikely event you are 1) caught and 2) someone wants to make an issue of it.

So, when I see cases like this I never think it's just a good person that made a mistake... Usually, there is a long, slippery slope that has preceded, starting with a lie here and there, getting away with it, raising the stakes, feeling further emboldened and that you are smarter than everyone else, then jumping off the deep end and having to spin an elaborate web in an attempt to cover up.


I actually interviewed several people serving time for white collar crime when I was in graduate school and they all claimed what they did wasn't really that bad and that they had just made a mistake or two, usually at the behest of superiors. But I would then research their cases and find out that they had been conducting blantant fraud for years and years -- and that's just what was known for sure. They all seemed to be at least low-level sociopaths that have been lying for so long they could no longer distinguish truth from fiction -- or at least had stopped trying.


I have a very good friend in the FBI that has told me several times that by the time someone gets prosecuted and convicted for something like this, what can be proved with absolute certainy is always just the tip of the ice berg.

[metro]

Real estate body fines Edmond agent, revokes license

By Richard Mize
Real Estate Editor

The Oklahoma Real Estate Commission voted to revoke Edmond real estate agent Ann Campbell's license and fine her $5,000 Wednesday and revealed that its investigation of alleged mortgage fraud includes not only Campbell's sponsoring broker, Ruth Boss, but the company she co-owns, Dominion Group.
Dominion Group, which owns RE/MAX First in Edmond and RE/MAX Associates in Oklahoma City, also is co-owned by Gigi Faulkner and Victoria Caldwell, president of the Oklahoma Metro Association of Realtors.

The closeknit leadership of the real estate business in central Oklahoma became clear at the commission meeting when Commissioner Mike Cassidy, co-owner of Coldwell Banker Advantage in Oklahoma City, abstained, again, from voting in the Campbell case.


Reason to abstain
Cassidy said previously that he abstained because of the potential perception of a conflict of interest. As immediate past president of the Oklahoma City Metro Association of Realtors, he serves as an officer in the association with Campbell.
Campbell and Boss both declined to comment. Marolyn Pryor, president-elect of the Realtors association, said officers likewise had decided not to comment.

Aside from Cassidy's abstention, Wednesday's vote to approve the consent agreement Campbell signed Feb. 12 came without comment and was unanimous.

Under the consent order, Campbell's license will remain revoked for three years, after which she will be eligible to reapply, said Anne Woody, commission executive director.

Campbell's license came under scrutiny after she pleaded guilty Dec. 13 to a federal charge of conspiracy to commit wire fraud in connection with mortgages in the sale of homes in Edmond's Oak Tree addition.

She is cooperating with prosecutors in the ongoing federal investigation.


Federal trial begins
The trial process got under way this week before U.S. District Judge Joe Heaton for several defendants in the federal case — Brandon L. Baum, Gayle L Caldwell, Joseph Conrad Therrien, Charles E Caldwell Jr., Teresa M. Therrien and Rusty Real Therrien. The trial was continued to Monday, court records show.
They were indicted in November on various charges connecting to "artificially inflating the sales prices of homes and submitting false loan applications ... (with the intention to) personally profit by funneling substantial sums of money back to themselves and others from the excess sales proceeds under the guise of remodeling, repair costs or marketing service fees,” the indictment alleged.

Campbell's attorney, Dan Webber, emphasized in a letter to the Oklahoma Real Estate Commission on Dec. 29 that Campbell has not been convicted of anything.

"Under the Federal Rules of Criminal Procedure, Ann's guilty plea does not make her conviction final. She has yet to be sentenced and have a judgment entered against her. In theory, Ann could still withdraw her plea of guilty and go to trial, though she has no plans to do so,” Webber said in the letter, which is part of Campbell's case file at the commission. "Ann has not been charged with bank fraud or any crime relating to causing any lender to lose money.

"More importantly ... Ann has not been indicted along with Brandon Baum, mortgage brokers and home buyers who have been indicted in the larger scheme to inflate Oak Tree home prices by means of false representations regarding home repairs and then profit from the inflated sales prices and allowances for repairs that never occurred.”

Campbell, in her plea agreement, acknowledged falsely reflecting the source of certain closing costs on a settlement statement, and accepting certain wired funds into her account then paying them to someone else, Webber said. That is the substance of her guilty plea to conspiracy to commit wire fraud, he said.


State hearings
Campbell's case before the state commission has lurched along for months.
In January, commissioners rejected a consent agreement written by agency staff that would have considered Campbell's license inactive, in part because Campbell could have reactivated her license at any time.

Campbell apparently did not willingly seek to change the status of her license.

She signed a form Jan. 8 that would have made the license inactive.

The form says: "I request that my license be placed on inactive status for the following reason,” and Campbell wrote in: "The commission is making me.”

Contributing: Staff Writer Jay F. Marks

[Easy180]

Let me sum all this up with a comprehensive, long winded and detailed answer

GREED


These guys thought they were too cool for school...Oops...Sorry bout your luck

[metro]

That's like a slap on the wrist. Only a $5000 fine and get's her licensed revoked for 3 years? She should have it revoked permanently. If it were any old plain joe realtor who usually is part time and has another job, they'd probably got a stiffer penalty.

[BorisYeltsin]

Her daughter is a realtor in her office, or used to be....thats who I used when I bought my house.....mine was on the up and up.....I hope