Va. man pleads guilty in mortgage loan scheme

AP News
Posted: Nov 24, 2009 12:36 PM

A Virginia Beach man faces up to 30 years in prison after pleading guilty to wire fraud in connection with a mortgage loan scheme.

U.S. Attorney Neil H. MacBride says 44-year-old Wayne Marlon Benedic Lezama entered his plea Monday in U.S. District Court in Norfolk.

According to court documents, Lezama participated in a loan scheme that fraudulently obtained more than $3 million in financing to buy homes across southeastern Virginia from August 2005 until January 2007.

The scheme included submission of false financial information about down payments, monthly income and liquid assets.

Lezama is scheduled to be sentenced Feb. 23.