March 24, 2009
In Charlotte, the District Court in Charlotte began hearing testimony in the case of Victoria Sprouse, 39, who stands accused of a litany of charges relating to fraudulent loans and real estate closing practices, which allegedly were netted her real estate law firm tens of thousands of dollars per day. According to investigators, Sprouse offered false information on hundreds of real estate agreements, which were backed by fraudulent loans, led to foreclosures, and eventually cause the collapse of a bank. Defense attorneys, however, contend that Sprouse’s practices were much less sinister than it appears, and in the worst of charges, Sprouse was a victim of fraud within her busy legal practice herself.
According to court documents thus far, the alleged mortgage fraud conspiracy entailed lying to lenders, illegally taking money from clients, and forging settlement legal documents. The goal, prosecutors contend, was to profit from the real estate closing and other legal fees associated with these fraudulent real estate deals in the Charlotte area. In order to rake in these fees, prosecutors allege that Sprouse, and her real estate law practice, was involved in several criminal practices involving the sale and purchase of homes, fraudulent real estate deals and negations, and other crimes including bank fraud, mail fraud, money laundering and perjury. The case involves more than two hundred residences in the Charlotte area, tabulating to over fifteen million dollars in fraudulent loans. Involved and already convicted in the case are five other real estate professionals, who have pled guilty to their crimes and involvement. These men and others, according to Sprouse’s defense team, conspired to deceive Sprouse and her legal practice in perpetrating their real estate fraud. The trial, at this time, is still in its initial courtroom stages with one witness being called forth thus far.
