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Man Gets 8 Years for Fraud

 
Man Gets 8 Years for Fraud
Posted August 21st, 2013 @ 12:12pm

A Central Iowa man has been sentenced to more than eight years in prison for guilty pleas connected to mortgage fraud.

Paul Kramer of Granger got a 90 month term from Federal Judge James Gritzner for his conviction on wire fraud, bank fraud and conspiracy charges connected to defrauding multiple lenders out of over a million dollars.

Kramer admitted to filing false applications for financiing to purchase homes through a real estate development company called LDF.

The government says from 2006 to 2009, Kramer used LDF member Sharon Flickenger as a straw buyer in order to obtain the financing, which his company could not do because it had too much debt. Kramer then closed the sales despite Flickinger paying nothing down.

After the sale of multiple properties, Kramer used the illicit proceeds to pay his own expenses.

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