1.18.2009

Random News Story

There's a long story today in the Star Telegram about the prosecution of cases involving mortgage fraud. And therein was this example:

Last year, Lobingier prosecuted Stephen B. Jones, 44, who falsified documents to inflate his income so he could purchase a $650,000 house. Jones, who was in training to be a mortgage broker, pulled other people’s financial records, whited out their names and typed in his own.

An astute underwriter discovered the scam. A jury later convicted Jones of making a false statement to obtain property and sentenced him to 45 years in prison.

Please tell me there's more to the story than that. 45 years? For that?

15 comments:

The Accomplice said...

Did he make his payments?

Anonymous said...

OK, now I get why Jardipshiatehead quit his blog.......he's going to the big house, and I don't mean a McMansion by the lake either.

Anonymous said...

He stole over half a million dollars, committed fraud, tax fraud, and stole identities to in the process. He planned it out, executed it over a period of time which proves intent. You did go to law school didn't you? I wonder how you would feel if he scammed you out of a house or serious amount on cash?

Anonymous said...

The man is now qualified to be in the Obammy administration.

Anonymous said...

In reality he'll serve, what? 5years? He really did do a crime with a victim, it seems. Of course, I advocate shooting on site anybody convicted of a second violent felony, so I guess I'm not real liberal about bad people.

Nice to know someone's concerned about the scum, though, Barry. Keep up the good work.

Oh, and that world you really don't want to see? You're working hard to make it a reality with your stupid liberal sentiments.

Ryan said...

Maybe it was supposed to be 4 to 5 years in stead of 45.

Anonymous said...

Jesus, people. Barry didn't suggest that the guy should walk. But part of the criminal justice system has to do with properly balancing the punishment handed out.

Mortgage fraud, while serious, is not a violent crime. And there is nothing here to indicate that the guy had any prior record. All that considered, I would think that a sentence of 8-10 years would be ample.

On a sentence of 45 years, the guy would almost certainly serve at least 15.

Anonymous said...

Somewhere down the line he didn't get the lesson that you don't steal and lie. I bet he learns now.

Anonymous said...

Penalties for non-violent crimes are not harsh enough.

Bernie Madoff should be up for the death penalty (or at least 99 consecutive life sentences in federal pound-me-in-the-ass prison). Then maybe he'll just save everyone the trouble and die like Kenneth Lay did.

Gorilla said...

He's probably going to one of those minimum-security prisons - which is no picnic. I have a client in there right now. He says the trick is: kick someone's ass the first day, or become someone's bitch.

Anonymous said...

I go to work everyday trying teach young kids the value of right and wrong, the difference between honesty and lying. Stealing is another problem I deal with. They don't get it anywhere else.

I imagine their gurdians they go home to every night probably ask the same question you just proposed to us. Go ahead and have kids BG, you'd probably fit right in with the norm.

Anonymous said...

Organized crime has to be in this scam that is nation wide and the reason why Freddie and Fannie are gone and we the taxpayers are picking up the tab. WE are paying for this crook who deserves 45 years for robbing all of us! No difference in going into the bank and robbing it!

China was investing too much money on these worthless mortgage loans so the criminals were turned loose. So much for govermental regulations!

It gives flipping a house a totally new meaning. Not what we see on TV!

Our country is in a big, big mess and this started under Bill Clinton when the internet bubble burst to keep our economy going!

We need to get back to reality, but I doubt that is the change Obama has in mind. Now all the union leaders and states that elected him will get all the goodies!

It is a mess!

chupacabra said...

I don't know which is worse living in a society that metes out sentences totally out of proprtion to the crime- (which they won't serve even a small portion of the time) or one where these same ridiculous sentences are lauded by the sheep.

Bank Director said...

You posed the story and question. Surely there are other pertinent details. However, I don't think many people understand that it is considered a very big crime to falsify info on a financial statement to a bank. The above posters are correct. This guy stole a lot of money in a very premeditated fashion, albeit without brandishing a weapon.

chupacabra said...

PS This story brought to mind a flashback of how ridiculous this sentence is and how broken our system is: years ago a guy (who was already a felon) shot my best friend in the face in front of 6 people. That guy served either 6 or 8 years I don't recall and died a free man a few years ago.
Piling on ridiculous, disproportionate sentences are meant to serve as a deterrent, a punishment and reward for the masses who are "doing the right thing" while demonstrating the government is insuring justice is done.
In fact it accomplishes none of the above.