Colorado

Oct 31, 2012 4:30 PM by Lauren Molenburg

Westminster woman sentenced in mortgage scheme

DENVER (AP) - A federal judge has sentenced a Westminster woman to two years in federal prison, plus three years on supervised release, for her role in a mortgage fraud scheme.

Kathy Mascarenas also was sentenced last week to pay almost $1.78 million in restitution. She pleaded guilty to two counts of wire fraud in March.

Federal prosecutors say she helped her husband, Steven Mascarenas, in a scheme to use false representations to obtain loans to buy homes in The Broadlands subdivision in Broomfield, then quickly resell the homes at inflated prices. Katrina Roberts was accused of appraising the properties at inflated values.

Steven Mascarenas is scheduled to be sentenced November 16.

Roberts has been sentenced to 20 months in prison.

(Copyright 2012 The Associated Press. All rights reserved.)

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