National Radio Show Host Warren Ballentine Indicted in $10 Million Mortgage Fraud Scheme (Photo credit: Facebook)
WARREN BALLENTINE INDICTED: Radio show host Warren Ballentine has been indicted in a $10 million mortgage fraud scheme, federal officials disclosed Monday. Ballentine, who calls himself the “people’s attorney” allegedly helped obtain nearly 30 mortgages in which buyers fraudulently qualified for loans based on false documents. The schemes allegedly took place between Dec. 2004 and May 2006. Warren Ballentine is scheduled to appear at the Dirksen U.S. Courthouse on Feb. 5 on six counts of bank fraud, false statements and mail and wire fraud.
Warren Ballentine was indicted last week by a federal grand jury for defrauding lenders by scheming with others to obtain nearly 30 bogus mortgage loans, according to the U.S. Attorney’s office in Chicago.
Ballentine is listed on WVON Radio’s web site as hosting a show from 3 to 6 a.m. Monday through Friday. The web site referred to him as “The People’s Attorney” and listed the name on his email address as “truthfighters.”
According to prosecutors, Ballentine helped obtain nearly 30 mortgages in which buyers were fraudulently qualified for loans based on false documents. The schemes took place between December 2004 and May 2006, authorities alleged. Source
I have been following Warren Ballentine’s Facebook page activity and someone needs to tell him to be careful about what he posts on social media. He said he’s being asked to take time off the air. Maybe he should. The charges against him are pretty hefty and very serious. He is facing up to 30 years in prison if convicted of the charges. He is also saying that he is innocent and didn’t make the kind of money the alleged in the indictment. Let us remember that an accused is innocent until proven guilty.
If you live in the Chicago or Atlanta area, you may recall hearing about Debt Stoppers Law Firm, (Robert J. Semrad & Associates), a bankruptcy law firm. Warren Ballentine is a partner in the firm. A check of the Better Business records on the company shows it with a C- rating. A constant thread that played on his radio show is “when the dollar is worthless you don’t want to be in debt.”
Here’s more from the press release issued by the Justice Department:
According to the indictment, between December 2004 and February 2005, Ballentine schemed with others to fraudulently cause various lenders to make at least eight loans totaling approximately $3.6 million by making false statements in loan documents, including applications, HUD-1 settlement statements, and occupancy statements concerning the buyers’ intention to occupy the homes they purchased as a primary residence. Ballentine then represented buyers recruited by others at real estate closings, knowing that they had signed and submitted false documents and had been fraudulently qualified to purchase the properties in Chicago, Monee, Woodridge, and Mokena.
Between February 2005 and May 2006, Ballentine allegedly engaged in a similar, separate scheme with others to fraudulently cause various lenders to make at least 20 loans totaling approximately $6.1 million by making false statements in mortgage documents, including the buyers’ intention to occupy the homes as a primary residence. Ballentine also represented these buyers at closings, knowing that they had been fraudulently qualified for the loans based on false documents, including some that Ballentine advised them to sign at closings. These homes were scattered throughout Chicago and other suburbs, including Country Club Hills, Richton Park, and Markham.
Each count of the indictment carries a maximum penalty of 30 years in prison and a $1 million fine or, as an alternative, the Court may impose a fine of twice the gross gain or twice the loss, whichever is greater, and restitution is mandatory. If convicted, the Court must impose a reasonable sentence under federal statutes and the advisory United States Sentencing Guidelines.
The indictment names Wanda Rivera-Burton and Brenda Tibbs as his alleged co-schemers. Here’s the indictment against Warren Ballentine:
Warren Ballentine Mortgage Fraud Indictment by
Reactions on Twitter:
Now I’m being told take time offthe radio smh. I need to be on air to tell my side.
— warren ballentine (@truthfighter1) January 28, 2013
It’s amazing how things are reported. For the record I’m innocent. I made a standard fee on closings. In Illinois… fb.me/1u2EravCH
— warren ballentine (@truthfighter1) January 28, 2013
I knew there was something weird about warren ballentine always asking for money to invest on his radio program
— keith roland (@keithroland1) January 28, 2013
Warren Ballentine: I am praying for you brother!
— Zack A Isaacs (@zackaisaacs) January 28, 2013
Ooooooohhhhhhh Warren Ballentine, SMH……… I thought you were the real deal brother.
— ♥ Ifé ♥ (@NaijaDivaaa) January 28, 2013
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