Straw Buyer Sentenced in Mortgage Fraud Case

Queens, New York Supreme Court Justice Kenneth C. Holder sentenced Rebecca Tharpe, age 32 to thirty days in jail, five years of probation, pay a restitution of two thousand five hundred dollars and ordered as a condition of Ms. Tharpe probation to speak at Mortgage Fraud Forums for a total of two years if called upon by the District Attorney’s Economic Crimes Bureau or the New York State Attorney General’s Office.

Tharpe who lives at 44 Third St. in Brentwood, Long Island was convicted in October after a jury trial that lasted over ten days in the Queens Supreme Court. Ms. Tharpe was convicted of first degree falsifying business records. The condition of her probation will require her to speak at Mortgage Fraud Forums that  address why individuals should not act as straw buyers, the downfalls associated with being a straw buyer, what the repercussions of being a straw buyer are and the impact that straw buyers have on the individuals scammed during the process.

Ms. Tharpe’s conviction stems from her involvement with Alexandra Gilmore who was an acquaintance. Ms. Gilmore enlisted Tharpe to act as a straw buyer involving the residents of Artee McCoy. Mr. McCoy is a ninety three year old retired barber who is suffering from dementia. Ms. Tharpe and Ms. Gilmore between August and September of 2005 purchased Mr. McCoy’s property located in Jamaica, Queens. Mr. McCoy’s signature was forged on the purchase agreement and Ms. Tharpe signed as the purchaser of the property on the contract for sale. Ms. Tharpe information was then used to obtain a mortgage on the Jamaica property.

The Jamaica property was then sold for three hundred ninety five thousand dollars to Ms. Tharpe who received one hundred two thousand dollars for her commission as a straw buyer. Ms. Gilmore received over two hundred thousand dollars in the arrangement. Ms. Gilmore received a check for Mr. McCoy in the amount of ninety seven thousand dollars and a check for one hundred thirty thousand which was payable to a fraudulent company that Ms. Gilmore claimed money was owed to in regard to a prior mortgage on the home.

Ms. Gilmore age 37 and formerly of 14 East Grove St. in Massapequa but presently living at 1550 Clark St. in Pittsburgh, Pennsylvania was sentenced to two to six years in prison after pleading guilty to two counts of second degree grand larceny as a hate crime.

Ms. Gilmore in addition to this case involving Mr. McCoy also refinanced his property located at 209-47 45th Drive in Bayside in 2004. Mr. McCoy who was a friend of Ms. Gilmores deceased father did not give his consent to this refinance or the purchase of his property in Jamaica.  The refinance of the property in Bayside was sent through New Century Mortgage in the amount of one hundred and fifty thousand dollars. Ms. Gilmore refinanced the property a second time after realizing how much equity could be gained in the transaction. The property was then refinanced again for four hundred twenty thousand dollars. Ms. Gilmore sent a letter to New Century representing herself as the daughter to Mr. McCoy and that Mr. McCoy was refinancing in order to gift monies to his children.

Ms. Gilmore without the knowledge of Mr. McCoy opened a bank account at Commerce Bank in Massapequa under his and her names. Correspondence from the bank account went directly to Ms. Gilmore. Ms. Gilmore withdrew over one thousand dollars from the account in July of 2005 within four days after fund were transfer from the first refinance transaction in the amount of one hundred twenty nine thousand two hundred sixty eight dollars. Ms. Gilmore then withdrew an addition two hundred twenty two thousand one hundred sixty dollars after the second refinance transaction on the Mr. McCoy’s property.

Ms. Gilmore did pay on the mortgage for a few months on the Jamaica property but then let the property fall into foreclosure.

Ms. Gilmore currently has a civil court case pending in Supreme Court and will be heard by Supreme Court Justice Howard Lane.

Mr. McCoy properties have both fallen into foreclosure.

District Attorney Richard Brown is please that Justice Holder crafted a sentence on Ms. Tharpe that held her accountable for her actions and requires her to educate the general public about Straw Buyers and the dangers of various mortgage fraud schemes. Straw buyers as a whole are unaware of the financial damage they can cause to financial institutions and individual homeowners just by signing their name to a document.