National Fraud Enforcement Division ramps up enforcement by indicting man of mortgage fraud

According to an indictment filed by the Department of Justice, in September, 2021, Yan Daniel Inclan Hernandez 32, Orlando, Florida, has been charged with one count of making a false Statement to a financial institution and three counts of wire fraud. Hernandez apparently made a false statement by exaggerating his monthly income and, subsequently, was approved for a $411,350 mortgage loan.

Then Hernandez played with fire by falsifying documents to obtain a PPP (Paycheck Protection Program) loan and Economic Injury Disaster Loan (EIDL) during the COVID crisis. Both these programs were mandated from the federal government.

Hernandez apparently overstated gross monthly payroll, gross monthly income, gross annual revenues, and even the number of employees at his business.

Hernandez faces up to 30 years in federal prison per count. The United States is also seeking an order of forfeiture in the amount of $157,000.00.

United States Attorney Gregory W. Kehoe made the announcement.

An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law and is not an admission of guilt. Every defendant is presumed innocent unless, and until, proven guilty.

Although this fraud might seem minimal, these charges stem from the recently formed National Fraud Enforcement Division through the Department of Justice. The core mission of the Fraud Division is to zealously investigate and prosecute those who steal or fraudulently misuse taxpayer dollars.

Post-closing audits. Pre-funding reviews. Mortgage QC. Mortgage Quality Control.