April 13, 2012
Guilty Plea Entered in DeKalb County Mortgage Fraud Case
Marshall C. Ezell, III, pled guilty yesterday in DeKalb County Superior Court to four counts of Residential Mortgage Fraud (O.C.G.A. § 16-8-102) for making false statements during the mortgage lending process. Judge Daniel M. Coursey sentenced Ezell to the State’s recommended five years probation, a fine of $10,000 and 150 hours of community service.
According to the indictment Ezell, III, sold a residential property to his father, Marshall Ezell, Jr., on December 19, 2005. The defendant arranged 100% financing for the $630,000 sale, and directed his father to make multiple misstatements on his loan application as the buyer of the property. These misstatements include that the property would be his father’s primary residence, when in fact he resides in Alabama and had no intention of moving; that the cash value of his father’s checking account was $686,524; and that his father’s monthly income was $2,910 per month, which was not the case. The defendant also deliberately omitted from the loan application his intention to transfer $226,000 of the sale proceeds to an account in the buyer’s name.
Assistant Attorney General Laura D. Pfister prosecuted the case on behalf of the State of Georgia.