CHARLESTON, S.C. (WCBD) – A federal judge has sentenced a Summerville man to three years in prison after he pleaded guilty to charges in a mortgage fraud that cost lenders almost $24 million.
Scott Wickersham, 36, of Summerville was sentenced in Charleston on Monday, May 9.
Wickersham had pleaded guilty in 2013 to one count of conspiracy and two counts of filing false tax returns.
Authorities say the scheme during the mid-2000s involved securing mortgages for more than 90 properties in coastal South Carolina and Georgia based on inflated property values.
Prosecutors said the extra cash was either divided up or reinvested to keep the fraud going. The scheme collapsed when the real estate market tanked in 2007.
Two other defendants have been convicted in connection with the mortgage fraud scheme. Steven F. Weiss, 67, of Virginia Beach, Virginia, pleaded guilty to one count of Conspiracy to Commit Mail Fraud, Wire Fraud, and Bank Fraud. Weiss, a former loan officer of North American Mortgage Group, LLC, was sentenced in April to 30 months in federal prison. Judge Gergel also ordered Weiss to serve three years of supervised release after he is released from prison and to pay restitution in the amount of $4,961,732. Kelly Martin, 34, of Moncks Corner, pleaded guilty in 2015 to one count of Conspiracy to Commit Mail Fraud, Wire Fraud, and Bank Fraud. She is awaiting sentencing.
The case was investigated by agents of the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation.