The Adobe Flash Player is required to view this multimedia interactive. Get it here.

Ex-mortgage broker sentenced to 12 years, fined $3.45M

Staff report

Thursday, June 07, 2007

DAYTON — A former mortgage broker convicted of 48 felony counts was sentenced Tuesday to 12 years in prison and fined $3.45 million.

Mark D. Musselman was also ordered to pay $1.15 million to ABN AMRO Mortgage Company, the victim in the case.

Extras

Musselman, owner of Phoenix Funding Inc., and his former employee Mark S. Edwards were convicted of obtaining fraudulent mortgage loans by submitting forged documents containing false and deceptive information, including forged real estate appraisals and loan applications.

They obtained dozens of fraudulent loans, including 12 using the names of deceased people.

A jury convicted Musselman on April 20. Edwards, who pleaded guilty March 29 to 48 counts, will be sentenced June 19.

Breaking news by e-mail

Start your day with top headlines in your inbox and get breaking news e-mail alerts at any time by subscribing to our Headlines e-mail newsletter.

See Sample | Privacy Policy

Copyright © Sat Jul 04 20:10:29 EDT 2009 Cox Ohio Publishing, Dayton, Ohio, USA. All rights reserved.

By using this site, you accept the terms of our Visitors Agreement and Privacy Policy. You may wish to note our other business policies.