Servicing Manager Pleads Guilty to $136 Million Fraud That Bankrupted New Jersey Lender
May 20, 2010
A former servicing manager at New Jersey-based U.S. Mortgage Corp. pleaded guilty to wire fraud and conspiracy last week for a scheme that took $136 million from the lender and caused it to file for bankruptcy. Leroy Hayden, 47, the servicing manager of U.S. Mortgage from 2004 through January 2009, pleaded guilty before U.S. District Judge Katharine Hayden for fraudulently selling Fannie Mae...