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Archive for April, 2013

Wilmington attorney headed to prison for mortgage fraud

Wednesday, April 17th, 2013

RALEIGH, NC (NEWS RELEASE) — RALEIGH – United States Attorney Thomas G. Walker announced that in federal court today before Chief United States District Judge James C. Dever, III, JEFFREY SCOTT TAGGART, of Wilmington, NC, was sentenced to a 3 year term of imprisonment, followed by 3 years of supervised release, on charges of Conspiracy to Commit Mail, Wire, and Bank Fraud, in violation of Title 18, United States Code, Section 1349, and Subscribing to a False Income Tax Return, in violation of Title 26, United States Code, Section 7206(1). TAGGART was also ordered to pay $3,060.896.77 to 12 banks and lenders who were victims of the fraud.

With respect to the charge of Conspiracy to Commit Mail, Wire, and Bank Fraud, the indictment alleged that TAGGART, in his capacity as a North Carolina attorney, prepared false HUD-1 settlement statements that he sent to banks and lenders on more than 50 loan transactions tied to the scheme. TAGGART falsified the HUD-1 settlement statements in various ways, including the falsification of the existence and degree of the buyer’s down payment, the existence and degree of financing, the existence or nonexistence of a buyer or seller, the actual contract price for the property, and the true recipient of all loan proceeds. TAGGART also participated in the scheme by fronting money from his firm’s escrow account to assist borrowers to appear qualified for loans that he closed.

As a result of the scheme, banks and lenders issued loans to the conspirators in the amount of approximately $15.8 million, which resulted in $3,060.896.77 in actual losses to the banks and lenders.

With respect to the Charge of Subscribing to a False Income Tax Return, the indictment alleged that TAGGART falsely listed his taxable income as $80,486, when in fact, his taxable income was $271,003.
Investigation of this case was conducted by the Internal Revenue Service Criminal Investigation and the Federal Bureau of Investigation. Assistant United States Attorney William M. Gilmore represented the United States.

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Fate of Water Street property remains cloudy

Wednesday, April 17th, 2013

The land’s future will soon be in the hands of a team out of the University of North Carolina-Chapel Hill that offers development assistance to local governments.

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Contract awarded for new road between Southport, Oak Island

Wednesday, April 17th, 2013

The $22 million project will construct a new route to link N.C. 87/133 with N.C. 211 to ease congestion between Southport and Oak Island.

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Principal at New Hanover High has distinctive style

Wednesday, April 17th, 2013

Several current and former teachers say Finn has brought a demanding culture to the school.

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Commission agenda includes resolutions to reprimand Berger

Wednesday, April 17th, 2013

WILMINGTON, NC (WWAY) — The agenda for Monday’s New Hanover County Commission meeting released today gives a look at resolutions commissioners will use to reprimand Brian Berger.

Commissioners plan to discuss a Petition in Amotion to remove Berger from the board and to censure him during the meeting.

According to the resolutions, commissioners cited Berger’s 12 unexcused absences since taking office, his criminal charges, statements he has made against county officials, money he owes the county and his refusal to resign as reasons why he is unfit to serve.

Click here to read the resolutions

“What I need to know are what are the consequences, number one, of this process,” Commissioner Jonathan Barfield said. “I need to be more educated on this, and I think that will be the position of the entire board.”

Ahead of monday’s meeting, commissioners will meet tomorrow for their agenda review, where they will discuss the censure and amotion against Berger.

None of the other commissioners, including Berger, have responded to our requests for comment.

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