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In the following press release To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.today announced that two Hillsborough County men have been convicted of conspiracy to commit racketeering for their involvement in a mortgage fraud scheme. David E. Tuggle, Jr. and Eric S. Steinhauser pleaded guilty today in Polk County and could face up to five years in prison when sentenced in September. As part of the plea agreement, neither man may be employed in the mortgage, title, or real estate industries. The men were prosecuted by the Attorney General’s Office of Statewide Prosecution.

Tuggle, 31, and Steinhauser, 29, were part of a criminal enterprise which submitted fraudulent mortgage loan documents to Argent Mortgage Company through Brandon-based Sunstate Mortgage Company. From 2003 through 2005, Tuggle and Steinhauser submitted more than 300 mortgage loan applications to Argent Mortgage. Of those 300 applications, more than 280 were funded and collectively valued at more than $34 million. Investigators believe the men paid one of their co-conspirators, a former Argent vice president, more than $100,000 for insuring the approval of these fraudulent loans.

Tuggle and Steinhauser are cooperating with authorities in both the pending case against their co-defendants and in a previously filed case. The investigation was a joint effort by the Florida Department of Law Enforcement, the Hillsborough County Consumer Protection Agency, and the Office of Statewide Prosecution. Argent has cooperated fully with the investigation.


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