DENVER—Peter Vincent Capra, age 55, of
Littleton, Colorado, was indicted by a federal grand jury in Denver on May 23,
2012 on additional charges of wire fraud, mail fraud, and money laundering, the
U.S. Attorney’s Office, IRS-Criminal Investigation, the Federal Bureau of
Investigation, and United States Postal Inspection Service announced. Capra is
scheduled to appear in U.S. District Court on May 29, 2012 at 10:00 a.m. to
respond to the charges. Capra was charged in a previous indictment with
obstruction of justice.
According to the information contained
in the Indictment, Capra was the president of Golden Design Group Inc. (GDG),
which built and sold houses in the Denver metropolitan area. Capra was also the
registered agent for Distinctive Mortgages LLC, which used GDG office space and
provided mortgages for some of the purchasers of GDG houses.
As part of the fraud, Capra caused the
creation of Cambridge Real Estate Consulting LLC (Cambridge) and Chateau Real
Estate Investments LLC (Chateau). Although publicly filed paperwork suggested
that these were independent entities, Capra or his associate, a person with the
initials R.P., directed all activities of Cambridge and Chateau and controlled
their bank accounts.
Between January 1, 2005 and July 31,
2008, Capra executed and attempted to execute a scheme to defraud mortgage
lenders through the use of applications for residential mortgage loans and
related documents associated with real estate purchases in the Denver Metro
area. As part of the scheme, Capra would structure transactions involving homes
built and sold by GDG to allow buyers to receive substantial amounts of the
lenders’ money at the time of closing without the lenders’ knowledge.
Capra was able to facilitate his scheme
by causing first and second mortgage applications related to the real estate
purchases be submitted with false and fraudulent representations about the
purchasers income, liabilities, and intent to occupy the properties as their
primary residences. Many of the purchasers bought multiple properties at or
near the same time in an attempt to prevent lenders from discovering the extent
of the buyer’s real estate liabilities.
At the closing or soon thereafter, Capra
would cause funds to be distributed to the buyers in ways that prevented the
lenders from knowing the funds were actually going to the buyers. The methods
included the disbursement of funds to LLCs, causing buyers to sign false
warranty waivers, making payments to the buyers through Cambridge, Chateau, or
other sham entities, and having GDG issue checks directly to the buyers, which
were not reflected on the HUD-1 closing statements. The disbursements to buyers
were usually in amounts between $85,000 and $130,000.
The indictment also includes an asset
forfeiture allegation, which states that upon conviction of the offenses
mentioned in the indictment, the defendant shall forfeit to the United States
all property involved in or traceable to property involved in such offense(s),
including but not limited to a money judgment.
“Investigating and prosecuting mortgage
fraud is one of the highest priorities of this U.S. Attorney’s Office as well
as the Department of Justice as a whole,” said U.S. Attorney John Walsh. “We
are taking action at all levels of mortgage fraud, from those committing the
fraud all the way to those who packaged and profited from the fraud.”
“This indictment sends a strong message
that the FBI will aggressively pursue those individuals who illegally defraud
mortgage lenders for their own personal gain,” said FBI Denver Special Agent in
Charge James Yacone. “The FBI will continue to investigate real estate and
mortgage industry professionals who have ignored their fiduciary
responsibilities and commit fraud.”
“The charges filed in this case
illustrate the commitment of postal inspectors to vigorously pursue individuals
who utilize the U.S. mail as part of these complex fraud schemes,” said Adam
Behnen, Inspector in Charge, U.S. Postal Inspection Service, Denver Division.
“With today’s challenging economy, it is critical we make every effort to
protect our financial institutions and consumers by ensuring the integrity of
the U.S. mail. We are very appreciative of the working relationship between our
agency, the Federal Bureau of Investigation, and the Internal Revenue
Service-Criminal Investigation, as it was instrumental in bringing this case
forward.”
“Mortgage fraud, like many financial
crimes, adds to the underground economy, erodes the integrity of our tax
system, and threatens the financial health of our communities. IRS Criminal
Investigation is committed to ‘following the money trail’ to ensure that those
who engage in these illegal activities are vigorously investigated and brought
to justice”, said Sean P. Sowards, Special Agent in Charge, IRS Criminal
Investigation, Denver Field Office.
Capra faces one count of obstruction of
justice, 14 counts of wire fraud, two counts of mail fraud, and 10 counts of
money laundering. If convicted, the defendant faces 10 years’ imprisonment and
up to a $250,000 fine for obstruction of justice; not more than 20 years’
imprisonment and up to a $250,000 fine for each count of wire fraud and mail
fraud; and not more than 10 years’ imprisonment and up to a $500,000 fine for
each count of money laundering.
This case was investigated by the
Internal Revenue Service-Criminal Investigation, the Federal Bureau of
Investigation, and the United States Postal Inspection Service.
This case is being prosecuted by
Assistant U.S. Attorney Matthew Kirsch.
The charges contained in the indictment
are only allegations, and the defendant is presumed innocent unless and until
proven guilty.
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