TX Woman is sentenced in Million Dollar Fraud

United States Attorney Jim Letten announced that Texas resident Jodie Hoang was sentenced by visiting United States District Judge Frederick Block from the Eastern District of New York.

Jodie Hoang, age 34, originally pleaded guilty back on September 15 of 2009. Ms. Hoang according to court recorded was working for as a clerk for Standard Mortgage Corporation. Standard Mortgage Corporation is located in New Orleans which originates and services residential property loans. Ms. Hoang’s responsibilities at Standard Mortgage Corporation were to processes residential mortgage closing funds that were received by Standard Mortgage Corporation at the time of closing. Ms. Hoang was able to manipulate the companies accounting software to perpetrate her crime.

Ms. Hoang used the companies system to recode deposit codes that were made and change them to create checks payable to herself and her creditors. The deposit codes were originally set to pay off payments made by mortgage customers of Standard Mortgage Corporation. Ms. Hoang was the individual responsible for all of Standard Mortgage Corporations general accounting which allowed her to adjust the codes to her betting as she would be the one responsible to reconcile the corporation’s general ledger.

Ms. Hoang separated and concealed all the cancelled checks which were made payable to her and her creditors.

Ms. Hoang was sentenced to thirty months in federal prison for computer fraud; three years of supervised release and was ordered to pay restitution in the amount of One million seventeen thousand seven hundred one dollars and thirty five cents. ($1,017,701.35)

The case was prosecuted by Assistant United States Attorney Carter K. D Guice, Jr. of the Financial and Computer Crime Unit and was investigated by the Federal Bureau of Investigation.