Monday, October 3, 2011

Appraiser Goes to Jail


"John F. Hochrek, Jr., 50, Spring Grove, Illinois, was sentenced by United States District Judge Lynn S. Adelman to 6 months in prison for his role in a mortgage fraud scheme involving at least 44 residential properties and millions of dollars of loss."

"Hochrek participated in the scheme as a licensed appraiser (doing business as Tri-County Appraisals in Wisconsin and Illinois) and as a real estate agent. Hochrek provided inflated appraisals for approximately 37 properties and negotiated sales contracts for approximately 15 of the properties, knowing that their values would be falsely inflated."


[Ed.: Hmm. 37 appraisals at, let's say, $350 each... He traded his livelihood for a felony conviction and $12,950. I'll bet he was telling everyone, "Hey! [I] need money to feed [my] kids and [I'm] over a barrel!" Or something like that.]

No comments:

Post a Comment