Former Naples bank officer indicted on mortgage fraud charges

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TAMPA, Fla. – A 63-year-old Naples man has been indicted on federal charges of conspiracy as well as loan and credit application fraud, the U.S. Justice Department said.

Ross D. Pickard, of Naples, faces up to five years in federal prison for the conspiracy count and up to 30 years on each of three fraud counts.

Pickard was a senior loan officer at JP Morgan Chase Bank, according to the indictment. He conspired with others in a scheme to defraud the bank by completing, certifying and submitting mortgage loan applications on behalf of borrowers that contained false and fraudulent statements.

Those inaccuracies induced JP Morgan Chase into funding mortgage loans for otherwise unqualified borrowers.

The Federal Housing Finance Agency, the Office of Inspector General and the Internal Revenue Service and Criminal Investigations Division investigated the case, which will be prosecuted by Special Assistant United States Attorney Chris Poor.

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