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Bethesda mortgage broker charged with fraud

A Bethesda mortgage broker has been indicted in federal court on charges that he was part of a scheme to defraud lenders, family members and others of more than $2.8 million, federal authorities said.

Douglas Skibicki, 41, along with an appraiser and others, allegedly carried out a series of fraudulent real estate transactions from 2006 to 2009, according to the indictment handed down in U.S. District Court in Baltimore.

In one instance, according to court documents, Skibicki submitted a loan application to refinance a vacant lot he and another family member owned. An appraiser and Skibicki prepared an appraisal showing that there was a house on the land, and Skibicki provided other false information, the indictment alleges. The lender provided a $350,000 loan to the family member.

Skibicki is charged with mail fraud, aggravated identity theft and bankruptcy fraud.

-- Maria Glod

By Maria Glod  |  April 2, 2010; 5:18 PM ET
Categories:  From the Courthouse , Maria Glod  
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Comments

There is a long list of brokers with dubious record, this one just got caught. Banks were equally responsible for forgoing routine checks and balances yet they walk free.

Posted by: Jim110 | April 2, 2010 8:53 PM | Report abuse

while the real estate industry is suspect, in my opinion, the mortgage industry is absolutely corrupt! Once when I refinanced my home they tried to charge me $400 to NOT set up an escrow account since I paid my RE taxes on my own...they wanted to charge me to NOT DO SOMETHING!!! (they were unsuccessful)...absolutely corrupt!!!

Posted by: DecafDrinker | April 3, 2010 12:19 AM | Report abuse

The bank was a willing participant. They made a formal policy decision NOT to do the normal due diligence checks before choosing to give away their money. Instead of sharing the dock with the defendants, however, their 'managers' are getting bonuses.

Posted by: WashPostSucks | April 3, 2010 8:52 AM | Report abuse

Despite what the excuse making liberals try to tell us this is not the norm. Most banks and brokers are honest people providing a product within the confines of the law. Because we raised a nation of idiots who don't think and want everything now we are in the mess we are in. One thing the current economy will teach people is live within your means. At least I hope it will.

Posted by: Pilot1 | April 3, 2010 9:38 AM | Report abuse

@Pilot1:

I am a liberal. I don't know what this has to do with liberal versus conservative. A crime is a crime. Contrary to what you say, I do think that this, unfortunately, has become the norm. When I was younger, being a mortgage broker was a respectable profession. Sadly, it has now been populated with a bunch of scamsters.

Wow - apprasing a vacant lot as if it has a house on it! That is so egregiously fraudulent that I can't believe they did it. While two appraisers may differ on the value of a house, it is easy to prove that a house doesn't exist.

Wobble

Posted by: wobbleman47 | April 4, 2010 3:20 AM | Report abuse

@Pilot1:

I am a liberal. I don't know what this has to do with liberal versus conservative. A crime is a crime. Contrary to what you say, I do think that this, unfortunately, has become the norm. When I was younger, being a mortgage broker was a respectable profession. Sadly, it has now been populated with a bunch of scamsters.

Wow - apprasing a vacant lot as if it has a house on it! That is so egregiously fraudulent that I can't believe they did it. While two appraisers may differ on the value of a house, it is easy to prove that a house doesn't exist.

Wobble

Posted by: wobbleman47 | April 4, 2010 3:20 AM | Report abuse


Wobbleman,

You say you you are a liberal and you "don't know" what is has to do with liberal v. conservative?

Wow! Did you write this with a straight face?

Posted by: jnrentz@aol.com | April 5, 2010 9:50 AM | Report abuse

Whether you are liberal or conservative I believe the old phrase goes something like this: Innocent until proven guilty. This is still America, although lately it's hard to tell

Posted by: BKeep | April 9, 2010 2:11 PM | Report abuse

The comments to this entry are closed.

 
 
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