MD Loan Officer charged with $2.8 million fraud

Douglas Skibicki, age 41 from Bethesda, Maryland has been charged with mail fraud, aggravated identity theft, and bankruptcy fraud in a scam that defrauded lenders and his own relatives and friends of over two million eight hundred thousand dollars.

Mr. Skibicki was an agent for First Investment Choice Corporation out of Bethesda, Maryland. He acted as a mortgage originator and mortgage broker for another company based in Laurel, Maryland as well. The indictment against Mr. Skibicki states that between 2006 and 2009 engaged in a mortgage fraud scam that included a licensed appraiser and other individuals and created fraudulent real estate transactions.

The State Department of Assessments and Taxation shows that First Investment Choice Corporation forfeited its status in Maryland in 2006 after it failed to provide a property return in 2005.

Mr. Skibicki used the names of his relatives and friends on six mortgage applications according to the indictment. The family members and friends had no idea that he had obtained mortgages in their names.

The lender that Mr. Skibicki submitted most of the fraudulent loan applications to was CitiMortgage. Mr. Skibicki obtained mortgages on properties in Bethesda, Elkridge and Derwood. The property in Bethesda was obtained by providing the lender with fraudulent income. The application stated that the buyer made forty six thousand dollars a month as a Clock repairer. The property in Elkridge was obtained by providing a fraudulent property appraisal even though the property had been demolished.

The property all went into foreclosure and Mr. Skibicki obtained over two million eight hundred thousand dollars in fraudulent loans.

Mr. Skibicki if convicted faces up to twenty years in prison a fine of two hundred fifty thousand dollars on the six counts of mail fraud; a mandatory two years in prison in regard to the aggravated identity theft and a maximum of five years in regard to the bankruptcy fraud charge.

Mr. Skibicki has been release on his own recognizance.

A cease and desist order was issued by the State Department of Labor, Licensing and Regulation Division of Financial Regulation prohibiting Mr. Skibicki from engaging in any credit service business or foreclosure consultant business activities in the state of Maryland.

bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark bookmark
tabs-top  banner ad

Leave a Reply

You must be logged in to post a comment.