DLLR Investigation Leads to Mortgage Scam Conviction

First in Maryland case should send a signal to other scammers

BALTIMORE (8/9/2007) - Department of Labor, Licensing and Regulation Secretary Thomas E. Perez today announced the first "foreclosure rescue scam" conviction in Maryland's history. The case was investigated by DLLR's Financial Regulation Division and prosecuted by the Prince George's County State's Attorney's office.

"The investigation that led to this conviction illustrates our enforcement division's commitment to protecting Marylanders," said Secretary Perez. "Our work and the successful prosecution by the Prince George's County State's Attorney's office, sends a message to unscrupulous individuals that Maryland will not tolerate those who prey on naïve homeowners in financial trouble."

Perver Lee Taylor found a victim who was facing financial hardship and convinced her to unknowingly transfer ownership of her home. DLLR investigators uncovered a scheme to steal the equity in her home, evict her and sell the property.

Taylor pled guilty in Prince George's County Circuit Court to a felony charge of theft and was sentenced to 10 years in jail, with all but 12 consecutive weekends suspended. Taylor is also required to repay the $40,000 of equity stolen from the victim.

"Partnering with DLLR has allowed us to convict this fraudster and protect consumers from further mortgage predation," said Prince George's County State's Attorney Glenn Ivey. "We look forward to working together to keep homeowners and future home buyers protected. Assistant State's Attorney Doyle Niemann obtained full restitution for the victim. Hopefully hitting crooks where it hurts them, in their wallets, will prevent them from stealing the hard earned money of Prince Georgians and all Marylanders."

Secretary Perez added, "As the foreclosure challenges increase due to non-traditional lending practices, this type of scam is becoming more common."

Assistant State's Attorney and State Delegate Doyle Niemann successfully sponsored the Protection of Homeowners in Foreclosure Act in 2005, giving homeowners greater protection against unscrupulous individuals.

Updated July 30, 2009